Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Sees Large Drop in Short Interest
by Michael Walen · The Markets DailyCadrenal Therapeutics, Inc. (NASDAQ:CVKD – Get Free Report) saw a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 74,726 shares, a decline of 32.3% from the February 26th total of 110,378 shares. Currently, 4.3% of the shares of the company are sold short. Based on an average daily volume of 40,693 shares, the short-interest ratio is currently 1.8 days.
Cadrenal Therapeutics Trading Down 4.8%
Cadrenal Therapeutics stock opened at $4.99 on Friday. The firm has a market cap of $11.68 million, a PE ratio of -0.62 and a beta of 1.04. Cadrenal Therapeutics has a 12 month low of $4.91 and a 12 month high of $19.03. The stock’s 50 day simple moving average is $6.90 and its two-hundred day simple moving average is $9.67.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.00.
View Our Latest Stock Analysis on Cadrenal Therapeutics
Insider Buying and Selling
In other Cadrenal Therapeutics news, CFO Matthew K. Szot sold 9,933 shares of the company’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $6.97, for a total value of $69,233.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 26.09% of the company’s stock.
Institutional Trading of Cadrenal Therapeutics
A number of hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Cadrenal Therapeutics by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after buying 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 $103,000. Citadel Advisors LLC acquired a new position in shares of Cadrenal Therapeutics in the third quarter worth about $274,000. Finally, DRW Securities LLC acquired a new position in shares of Cadrenal Therapeutics in the fourth quarter worth about $171,000. 7.92% of the stock is owned by hedge funds and other institutional investors.
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.