Cadrenal Therapeutics (NASDAQ:CVKD) Price Target Lowered to $13.00 at HC Wainwright

Cadrenal Therapeutics (NASDAQ:CVKD) had its price target lowered by equities researchers at HC Wainwright from $32.00 to $13.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 199.19% from the stock’s previous close.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.00.

Cadrenal Therapeutics Stock Down 6.6%

Shares of Cadrenal Therapeutics stock traded down $0.31 during trading on Tuesday, reaching $4.35. The company’s stock had a trading volume of 13,859 shares, compared to its average volume of 50,564. Cadrenal Therapeutics has a 52-week low of $4.21 and a 52-week high of $17.50. The company has a market cap of $10.89 million, a price-to-earnings ratio of -0.65 and a beta of 1.53. The firm’s 50-day moving average is $6.57 and its two-hundred day moving average is $9.26.

Cadrenal Therapeutics (NASDAQ:CVKD) last issued its earnings results on Tuesday, March 31st. The company reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.24). On average, equities research analysts anticipate that Cadrenal Therapeutics will post -7.59 EPS for the current year.

Institutional Investors Weigh In On Cadrenal Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DRW Securities LLC bought a new stake in Cadrenal Therapeutics in the 4th quarter worth $171,000. Citadel Advisors LLC bought a new stake in shares of Cadrenal Therapeutics in the third quarter worth about $274,000. Geode Capital Management LLC increased its holdings in Cadrenal Therapeutics by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock valued at $98,000 after purchasing an additional 1,818 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in Cadrenal Therapeutics during the 3rd quarter valued at about $103,000. 7.92% of the stock is currently owned by institutional investors.

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.