Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Stock Short Interest Jumps 165.6%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) saw a large growth in short interest in 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. Approximately 9.2% of the company’s shares are short sold. Based on an average trading volume of 310,361 shares, the days-to-cover ratio is presently 0.9 days.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Cadrenal Therapeutics

A hedge fund recently bought a new position in Cadrenal Therapeutics stock. Courier Capital LLC purchased a new position in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 39,674 shares of the company’s stock, valued at approximately $43,000. Courier Capital LLC owned about 1.11% of Cadrenal Therapeutics as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 7.92% of the company’s stock.

Cadrenal Therapeutics Price Performance

CVKD traded up $0.04 on Friday, reaching $0.98. 80,671 shares of the stock were exchanged, compared to its average volume of 186,989. The company’s 50-day moving average price is $1.15 and its 200 day moving average price is $4.00. The firm has a market capitalization of $3.52 million, a PE ratio of -0.20 and a beta of 1.93. Cadrenal Therapeutics has a fifty-two week low of $0.82 and a fifty-two week high of $13.75.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.28. As a group, equities analysts forecast that Cadrenal Therapeutics will post -3.86 earnings per share for the current fiscal year.

About Cadrenal Therapeutics

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.