Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Shares Shorted: Short Interest Up 165.6% in October

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 281,405 shares, a growth of 165.6% from the September 30th total of 105,945 shares. Based on an average trading volume of 310,361 shares, the short-interest ratio is presently 0.9 days. Currently, 9.2% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Thursday, October 15th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.00.

Hedge Funds Weigh In On Cadrenal Therapeutics

An institutional investor recently bought a new position in Cadrenal Therapeutics stock. Courier Capital LLC acquired a new stake in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,674 shares of the company’s stock, valued at approximately $43,000. Courier Capital LLC owned approximately 1.11% of Cadrenal Therapeutics at the end of the most recent reporting period. Institutional investors own 7.92% of the company’s stock.

Cadrenal Therapeutics Stock Performance

Cadrenal Therapeutics stock traded down $0.00 during mid-day trading on Thursday, hitting $0.94. The company’s stock had a trading volume of 44,028 shares, compared to its average volume of 187,501. The company has a 50 day moving average of $1.15 and a 200-day moving average of $4.00. The stock has a market cap of $3.37 million, a PE ratio of -0.19 and a beta of 1.93. Cadrenal Therapeutics has a one year low of $0.82 and a one year high of $13.75.

Cadrenal Therapeutics (NASDAQ:CVKD) last released its earnings results on Thursday, August 13th. The company reported ($1.14) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.28. On average, equities research analysts forecast that Cadrenal Therapeutics will post -3.86 EPS for the current fiscal year.

Cadrenal Therapeutics Company Profile

Cadrenal Therapeutics, Inc (NASDAQ: CVKD) is a clinical-stage biopharmaceutical company focused on developing therapies for patients who require long-term anticoagulation. The company’s lead product candidate is tecarfarin, an investigational oral anticoagulant designed for individuals with implanted mechanical heart valves and other mechanical circulatory support devices.

Tecarfarin is a vitamin K antagonist intended to address challenges associated with existing anticoagulant therapy, including drug interactions and changes in a patient’s metabolism.