Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Update

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 110,378 shares, an increase of 95.5% from the February 12th total of 56,472 shares. Approximately 6.4% of the company’s shares are short sold. Based on an average daily volume of 66,749 shares, the short-interest ratio is currently 1.7 days. Based on an average daily volume of 66,749 shares, the short-interest ratio is currently 1.7 days. Approximately 6.4% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.00.

Insider Transactions at Cadrenal Therapeutics

In other Cadrenal Therapeutics news, CFO Matthew K. Szot sold 9,933 shares of the firm’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $6.97, for a total transaction of $69,233.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 26.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Cadrenal Therapeutics by 14.3% in the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after acquiring an additional 1,818 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Cadrenal Therapeutics during the third quarter worth approximately $103,000. Citadel Advisors LLC purchased a new position in Cadrenal Therapeutics during the third quarter worth approximately $274,000. Finally, DRW Securities LLC acquired a new position in shares of Cadrenal Therapeutics in the 4th quarter valued at $171,000. Institutional investors and hedge funds own 7.92% of the company’s stock.

Cadrenal Therapeutics Stock Up 3.1%

Shares of NASDAQ:CVKD traded up $0.22 during midday trading on Friday, reaching $7.40. The company’s stock had a trading volume of 25,674 shares, compared to its average volume of 55,371. The firm has a market cap of $17.32 million, a price-to-earnings ratio of -0.92 and a beta of 1.04. The business has a 50 day moving average price of $7.22 and a 200 day moving average price of $10.14. Cadrenal Therapeutics has a 1 year low of $4.91 and a 1 year high of $20.39.

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.