Cadrenal Therapeutics (NASDAQ:CVKD) Stock Price Up 12.4% – What’s Next?

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD)’s stock price traded up 12.4% during mid-day trading on Friday. The stock traded as high as $1.12 and last traded at $1.09. Approximately 172,917 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 227,734 shares. The stock had previously closed at $0.97.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and one has given 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 Stock Up 12.4%

The business’s 50-day simple moving average is $1.29 and its 200-day simple moving average is $3.05. The stock has a market cap of $3.89 million, a PE ratio of -0.22 and a beta of 1.93.

Cadrenal Therapeutics (NASDAQ:CVKD) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.28. As a group, equities research analysts anticipate that Cadrenal Therapeutics, Inc. will post -3.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cadrenal Therapeutics

An institutional investor recently bought a new position in Cadrenal Therapeutics stock. Courier Capital LLC acquired a new stake in shares of Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 39,674 shares of the company’s stock, valued at approximately $43,000. Courier Capital LLC owned 1.11% of Cadrenal Therapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 7.92% of the company’s stock.

About Cadrenal Therapeutics

Cadrenal Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for patients with cardiovascular disease. The company’s lead product candidate is tecarfarin, an investigational oral anticoagulant intended for people who require long-term blood-thinning treatment, including patients with implanted mechanical heart valves and left ventricular assist devices.

Tecarfarin is designed as a vitamin K antagonist and is metabolized primarily through carboxylesterase 1 rather than the cytochrome P450 pathway associated with many drug interactions involving warfarin.