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

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totaling 50,444 shares, a drop of 18.2% from the December 15th total of 61,671 shares. Based on an average daily volume of 83,684 shares, the days-to-cover ratio is currently 0.6 days. Currently, 2.9% of the company’s stock are sold short. Currently, 2.9% of the company’s stock are sold short. Based on an average daily volume of 83,684 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $32.00.

Cadrenal Therapeutics Stock Down 6.4%

Shares of NASDAQ CVKD opened at $7.37 on Wednesday. The firm’s 50-day simple moving average is $8.97 and its 200 day simple moving average is $11.38. The stock has a market cap of $17.25 million, a P/E ratio of -0.92 and a beta of 1.19. Cadrenal Therapeutics has a fifty-two week low of $6.42 and a fifty-two week high of $22.90.

Cadrenal Therapeutics (NASDAQ:CVKD) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.31) EPS for the quarter, beating analysts’ consensus estimates of ($1.55) by $0.24. On average, sell-side analysts anticipate that Cadrenal Therapeutics will post -7.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Cadrenal Therapeutics

In related news, CFO Matthew K. Szot sold 9,933 shares of Cadrenal Therapeutics 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 15,977 shares of company stock worth $153,834 over the last three months. 26.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cadrenal Therapeutics stock. JPMorgan Chase & Co. purchased a new position in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,500 shares of the company’s stock, valued at approximately $103,000. JPMorgan Chase & Co. owned approximately 0.37% of Cadrenal Therapeutics at the end of the most recent quarter. Institutional investors own 7.92% of the company’s stock.

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.