Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Increases By 22.1%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 71,276 shares, a growth of 22.1% from the January 15th total of 58,362 shares. Based on an average daily trading volume, of 45,834 shares, the short-interest ratio is presently 1.6 days. Currently, 4.1% of the company’s stock are sold short. Currently, 4.1% of the company’s stock are sold short. Based on an average daily trading volume, of 45,834 shares, the short-interest ratio is presently 1.6 days.

Cadrenal Therapeutics Trading Up 12.4%

Shares of Cadrenal Therapeutics stock opened at $5.52 on Thursday. The company has a market capitalization of $12.92 million, a P/E ratio of -0.69 and a beta of 1.18. The stock has a fifty day simple moving average of $7.28 and a 200 day simple moving average of $10.60. Cadrenal Therapeutics has a 12-month low of $4.91 and a 12-month high of $22.90.

Insider Buying and Selling

In other Cadrenal Therapeutics news, CFO Matthew K. Szot sold 9,933 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $6.97, for a total value of $69,233.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 26.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CVKD. DRW Securities LLC purchased a new position in Cadrenal Therapeutics during the fourth quarter worth about $171,000. Geode Capital Management LLC lifted its position 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 buying an additional 1,818 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Cadrenal Therapeutics in the 3rd quarter worth approximately $103,000. Finally, Citadel Advisors LLC bought a new position in shares of Cadrenal Therapeutics in the third quarter valued at approximately $274,000. 7.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.00.

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.