Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Sees Significant Decrease in Short Interest

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) saw a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 56,472 shares, a decrease of 20.8% from the January 29th total of 71,276 shares. Based on an average trading volume of 31,172 shares, the days-to-cover ratio is currently 1.8 days. Currently, 3.3% of the shares of the stock are short sold. Currently, 3.3% of the shares of the stock are short sold. Based on an average trading volume of 31,172 shares, the days-to-cover ratio is currently 1.8 days.

Insider Buying and Selling at Cadrenal Therapeutics

In other news, CFO Matthew K. Szot sold 9,933 shares of Cadrenal Therapeutics stock in a transaction that occurred 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 legal filing with the SEC, which is available at this link. Company insiders own 26.09% of the company’s stock.

Institutional Trading of Cadrenal Therapeutics

A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in Cadrenal Therapeutics in the 3rd quarter worth about $103,000. Geode Capital Management LLC grew its stake in shares of Cadrenal Therapeutics by 14.3% in the 4th quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock valued at $98,000 after buying an additional 1,818 shares in the last quarter. Citadel Advisors LLC acquired a new position in Cadrenal Therapeutics in the third quarter worth approximately $274,000. Finally, DRW Securities LLC acquired a new position in Cadrenal Therapeutics in the fourth quarter worth approximately $171,000. Institutional investors and hedge funds own 7.92% of the company’s stock.

Cadrenal Therapeutics Price Performance

CVKD traded up $0.15 on Wednesday, reaching $8.28. 13,059 shares of the company traded hands, compared to its average volume of 55,150. The company has a market cap of $19.38 million, a price-to-earnings ratio of -1.03 and a beta of 1.04. The stock’s 50 day moving average price is $7.08 and its 200-day moving average price is $10.38. Cadrenal Therapeutics has a 52-week low of $4.91 and a 52-week high of $20.39.

Analyst Ratings Changes

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