Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Down 32.3% in March

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the recipient of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 74,726 shares, a decrease of 32.3% from the February 26th total of 110,378 shares. Based on an average daily trading volume, of 40,693 shares, the days-to-cover ratio is presently 1.8 days. Currently, 4.3% of the company’s shares are short sold.

Insider Transactions at Cadrenal Therapeutics

In other Cadrenal Therapeutics news, CFO Matthew K. Szot sold 9,933 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $6.97, for a total value of $69,233.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 26.09% of the company’s stock.

Hedge Funds Weigh In On Cadrenal Therapeutics

A number of large investors have recently modified their holdings of CVKD. DRW Securities LLC acquired a new position in shares of Cadrenal Therapeutics in the 4th quarter valued at about $171,000. Geode Capital Management LLC increased its position in Cadrenal Therapeutics by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after purchasing an additional 1,818 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Cadrenal Therapeutics in the third quarter valued at approximately $103,000. Finally, Citadel Advisors LLC purchased a new position in Cadrenal Therapeutics in the third quarter valued at approximately $274,000. 7.92% of the stock is currently owned by hedge funds and other institutional investors.

Cadrenal Therapeutics Stock Down 4.8%

Shares of CVKD stock traded down $0.25 on Friday, reaching $4.99. 26,064 shares of the stock were exchanged, compared to its average volume of 48,940. The stock has a market cap of $11.67 million, a P/E ratio of -0.62 and a beta of 1.04. The firm has a 50 day moving average of $6.90 and a two-hundred day moving average of $9.65. Cadrenal Therapeutics has a 1-year low of $4.91 and a 1-year high of $19.03.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $32.00.

About Cadrenal Therapeutics

Cadrenal Therapeutics, Inc operates as a clinical development biopharmaceutical company. The company focuses on developing Tecarfarin, a novel oral and reversible anticoagulant to prevent heart attacks, strokes, and deaths due to blood clots in patients with rare cardiovascular conditions requiring chronic anticoagulation, such as patients with left ventricular assist devices, end-stage kidney disease, atrial fibrillation, and thrombotic anti-phospholipid syndrome. Cadrenal Therapeutics, Inc was incorporated in 2022 and is headquartered in Ponte Vedra, Florida.