Cadrenal Therapeutics (NASDAQ:CVKD) Posts Earnings Results

Cadrenal Therapeutics (NASDAQ:CVKD) announced its earnings results on Tuesday. The company reported ($1.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.24), FiscalAI reports.

Cadrenal Therapeutics Stock Performance

Shares of CVKD opened at $4.90 on Thursday. Cadrenal Therapeutics has a fifty-two week low of $4.21 and a fifty-two week high of $19.03. The firm’s 50-day simple moving average is $6.74 and its two-hundred day simple moving average is $9.47. The stock has a market cap of $11.47 million, a PE ratio of -0.73 and a beta of 1.53.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.00.

Institutional Trading of Cadrenal Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position 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 buying an additional 1,818 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in Cadrenal Therapeutics in the third quarter worth $103,000. Citadel Advisors LLC bought a new stake in Cadrenal Therapeutics in the third quarter worth $274,000. Finally, DRW Securities LLC purchased a new stake in shares of Cadrenal Therapeutics in the fourth quarter worth $171,000. 7.92% of the stock is 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.