Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Rises By 42.6%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) saw a large growth in short interest in February. As of February 15th, there was short interest totalling 41,500 shares, a growth of 42.6% from the January 31st total of 29,100 shares. Based on an average daily trading volume, of 57,400 shares, the days-to-cover ratio is presently 0.7 days. Currently, 3.7% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, HC Wainwright lifted their price objective on shares of Cadrenal Therapeutics from $3.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, November 11th.

Cadrenal Therapeutics Stock Down 8.4 %

Shares of NASDAQ:CVKD traded down $1.60 during midday trading on Monday, reaching $17.40. 59,244 shares of the company traded hands, compared to its average volume of 47,956. The business’s fifty day moving average price is $17.88. The company has a market capitalization of $31.02 million, a price-to-earnings ratio of -2.61 and a beta of 1.37. Cadrenal Therapeutics has a 12 month low of $5.40 and a 12 month high of $22.90.

Institutional Investors Weigh In On Cadrenal Therapeutics

A hedge fund recently bought a new stake in Cadrenal Therapeutics stock. Geode Capital Management LLC bought a new position in shares of Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,554 shares of the company’s stock, valued at approximately $153,000. Geode Capital Management LLC owned 0.59% of Cadrenal Therapeutics at the end of the most recent quarter. Hedge funds and other institutional investors own 7.92% of the company’s stock.

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.