Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Rises By 313.6%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 173,700 shares, a growth of 313.6% from the March 31st total of 42,000 shares. Based on an average daily volume of 421,400 shares, the short-interest ratio is presently 0.4 days. Currently, 2.0% of the shares of the stock are sold short.

Institutional Trading of Cadrenal Therapeutics

An institutional investor recently bought a new position in Cadrenal Therapeutics stock. Armistice Capital LLC acquired a new position in shares of Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 982,285 shares of the company’s stock, valued at approximately $668,000. Armistice Capital LLC owned approximately 7.54% of Cadrenal Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 7.92% of the company’s stock.

Cadrenal Therapeutics Trading Up 1.6 %

NASDAQ:CVKD traded up $0.01 during mid-day trading on Friday, hitting $0.43. The company’s stock had a trading volume of 81,232 shares, compared to its average volume of 383,609. Cadrenal Therapeutics has a fifty-two week low of $0.36 and a fifty-two week high of $3.14. The company has a market capitalization of $6.89 million, a price-to-earnings ratio of -0.62 and a beta of 1.15. The stock has a fifty day moving average of $0.57 and a 200-day moving average of $0.65.

Cadrenal Therapeutics (NASDAQ:CVKD) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.04. On average, equities analysts anticipate that Cadrenal Therapeutics will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $3.00 price target on shares of Cadrenal Therapeutics in a research report on Thursday, March 14th.

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.