Cadrenal Therapeutics (NASDAQ:CVKD) Issues Earnings Results

Cadrenal Therapeutics (NASDAQ:CVKD) announced its quarterly earnings data on Thursday. The company reported ($1.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.51) by $0.47, FiscalAI reports.

Cadrenal Therapeutics Trading Up 1.2%

Shares of Cadrenal Therapeutics stock traded up $0.07 during mid-day trading on Friday, hitting $6.09. 65,332 shares of the stock were exchanged, compared to its average volume of 65,332. The company has a 50-day simple moving average of $6.20 and a 200 day simple moving average of $8.01. The stock has a market capitalization of $18.76 million, a price-to-earnings ratio of -1.08 and a beta of 1.81. Cadrenal Therapeutics has a twelve month low of $4.21 and a twelve month high of $16.25.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. DRW Securities LLC acquired a new position in Cadrenal Therapeutics in the 4th quarter valued at $171,000. Citadel Advisors LLC acquired a new position in Cadrenal Therapeutics in the 3rd quarter valued at $274,000. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 1,818 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Cadrenal Therapeutics in the 3rd quarter valued at $103,000. 7.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Monday, April 20th. HC Wainwright decreased their price target on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Finally, Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $13.00.

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.