Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Up 204.2% in March

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 21,900 shares, a growth of 204.2% from the February 29th total of 7,200 shares. Based on an average daily volume of 340,600 shares, the short-interest ratio is currently 0.1 days. Approximately 0.4% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $3.00 price objective on shares of Cadrenal Therapeutics in a report on Thursday, March 14th. Noble Financial assumed coverage on Cadrenal Therapeutics in a research note on Monday, December 18th. They set an “outperform” rating and a $4.00 price objective for the company.

Institutional Investors Weigh In On Cadrenal Therapeutics

A hedge fund recently bought a new stake in Cadrenal Therapeutics stock. Armistice Capital LLC acquired a new position in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 982,285 shares of the company’s stock, valued at approximately $668,000. Armistice Capital LLC owned approximately 7.54% of Cadrenal Therapeutics as of its most recent SEC filing. 7.92% of the stock is currently owned by hedge funds and other institutional investors.

Cadrenal Therapeutics Stock Down 3.1 %

NASDAQ:CVKD traded down $0.02 during mid-day trading on Thursday, hitting $0.62. 29,986 shares of the company traded hands, compared to its average volume of 348,680. The firm has a market cap of $9.92 million, a price-to-earnings ratio of -0.93 and a beta of 1.24. The stock’s fifty day moving average price is $0.89 and its 200-day moving average price is $0.69. Cadrenal Therapeutics has a one year low of $0.40 and a one year high of $3.14.

About Cadrenal Therapeutics

Cadrenal Therapeutics, Inc operates as a clinical development biopharmaceutical company. The company focuses on developing Tecarfarin, a novel therapy with orphan drug indication for the prevention of systemic thromboembolism of cardiac origin in patients with end-stage renal disease and atrial fibrillation.