Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Down 60.6% in March
by Amy Steele · The Cerbat GemCadrenal Therapeutics, Inc. (NASDAQ:CVKD – Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 29,406 shares, a decline of 60.6% from the March 15th total of 74,726 shares. Based on an average daily volume of 53,073 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.6% of the shares of the company are short sold.
Analyst Ratings Changes
CVKD has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Wednesday, January 21st. HC Wainwright decreased their price target on 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 investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Cadrenal Therapeutics currently has an average rating of “Hold” and a consensus target price of $13.00.
View Our Latest Analysis on Cadrenal Therapeutics
Cadrenal Therapeutics Stock Down 0.2%
NASDAQ:CVKD traded down $0.01 during trading hours on Tuesday, hitting $4.98. 7,765 shares of the company’s stock traded hands, compared to its average volume of 49,130. Cadrenal Therapeutics has a 52 week low of $4.21 and a 52 week high of $17.50. The business’s fifty day simple moving average is $6.32 and its two-hundred day simple moving average is $8.95. The firm has a market cap of $12.50 million, a P/E ratio of -0.75 and a beta of 1.53.
Cadrenal Therapeutics (NASDAQ:CVKD – Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.24). On average, analysts expect that Cadrenal Therapeutics will post -7.59 EPS for the current year.
Institutional Investors Weigh In On Cadrenal Therapeutics
Several hedge funds have recently bought and sold shares of the stock. DRW Securities LLC purchased a new position in Cadrenal Therapeutics in the 4th quarter worth approximately $171,000. Citadel Advisors LLC purchased a new stake in shares of Cadrenal Therapeutics during the 3rd quarter valued at $274,000. JPMorgan Chase & Co. purchased a new stake in shares of Cadrenal Therapeutics during the 3rd quarter valued at $103,000. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 1,818 shares during the last quarter. 7.92% of the stock is currently owned by institutional investors.
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.