Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Rises By 313.6%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 173,700 shares, a growth of 313.6% from the March 31st total of 42,000 shares. Based on an average daily volume of 421,400 shares, the days-to-cover ratio is currently 0.4 days. Approximately 2.0% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of Cadrenal Therapeutics in a report on Thursday, March 14th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cadrenal Therapeutics stock. Armistice Capital LLC bought a new stake in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 982,285 shares of the company’s stock, valued at approximately $668,000. Armistice Capital LLC owned about 7.54% of Cadrenal Therapeutics at the end of the most recent quarter. 7.92% of the stock is owned by institutional investors and hedge funds.

Cadrenal Therapeutics Stock Performance

Cadrenal Therapeutics stock traded up $0.01 during midday trading on Friday, reaching $0.43. The stock had a trading volume of 81,232 shares, compared to its average volume of 383,609. Cadrenal Therapeutics has a twelve month low of $0.36 and a twelve month high of $3.14. The stock has a market capitalization of $6.89 million, a PE ratio of -0.62 and a beta of 1.15. The stock’s 50-day simple moving average is $0.57 and its 200 day simple moving average is $0.65.

Cadrenal Therapeutics (NASDAQ:CVKD) last issued its earnings results on Monday, March 11th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. Equities analysts predict that Cadrenal Therapeutics will post -0.34 earnings per share for the current fiscal year.

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.