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

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 74,726 shares, a decrease of 32.3% from the February 26th total of 110,378 shares. Based on an average trading volume of 40,693 shares, the days-to-cover ratio is presently 1.8 days. Currently, 4.3% of the company’s stock are sold short.

Cadrenal Therapeutics Price Performance

CVKD traded down $0.06 during trading hours on Monday, hitting $4.93. 5,241 shares of the stock were exchanged, compared to its average volume of 51,429. The stock has a 50-day simple moving average of $6.90 and a 200-day simple moving average of $9.62. Cadrenal Therapeutics has a 12 month low of $4.82 and a 12 month high of $19.03. The stock has a market cap of $11.54 million, a price-to-earnings ratio of -0.62 and a beta of 1.03.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cadrenal Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $32.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. DRW Securities LLC bought a new stake in shares of Cadrenal Therapeutics during the 4th quarter valued at about $171,000. Geode Capital Management LLC boosted its holdings in shares of Cadrenal Therapeutics by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock valued at $98,000 after acquiring an additional 1,818 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Cadrenal Therapeutics during the third quarter worth about $103,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Cadrenal Therapeutics in the 3rd quarter worth about $274,000. 7.92% of the stock is currently owned by 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.