Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Update

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 43,509 shares, an increase of 48.0% from the March 31st total of 29,406 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 29,003 shares, the days-to-cover ratio is presently 1.5 days.

Analysts Set New Price Targets

CVKD has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. HC Wainwright dropped their price target on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.00.

Cadrenal Therapeutics Price Performance

Shares of Cadrenal Therapeutics stock traded up $0.26 during trading on Wednesday, reaching $5.59. 58,419 shares of the company traded hands, compared to its average volume of 51,051. Cadrenal Therapeutics has a 1-year low of $4.21 and a 1-year high of $17.00. The company has a 50 day moving average price of $6.24 and a 200-day moving average price of $8.29. The firm has a market capitalization of $17.22 million, a PE ratio of -0.84 and a beta of 1.53.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.24). Equities research analysts expect that Cadrenal Therapeutics will post -5.61 earnings per share for the current year.

Institutional Trading of Cadrenal Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DRW Securities LLC bought a new stake in shares of Cadrenal Therapeutics in the 4th quarter worth $171,000. Citadel Advisors LLC bought a new stake in shares of Cadrenal Therapeutics in the 3rd quarter worth $274,000. Geode Capital Management LLC grew its stake in shares of Cadrenal Therapeutics by 14.3% in the 4th quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after acquiring an additional 1,818 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in shares of Cadrenal Therapeutics in the 3rd quarter worth $103,000. Institutional investors own 7.92% of the company’s stock.

Cadrenal Therapeutics Company Profile

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.