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

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the target of 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. Currently, 3.7% of the company’s stock are sold short. Based on an average daily trading volume, of 57,400 shares, the short-interest ratio is presently 0.7 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cadrenal Therapeutics stock. Geode Capital Management LLC purchased a new stake in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,554 shares of the company’s stock, valued at approximately $153,000. Geode Capital Management LLC owned approximately 0.59% of Cadrenal Therapeutics as of its most recent filing with the Securities and Exchange Commission. 7.92% of the stock is currently owned by institutional investors.

Cadrenal Therapeutics Trading Up 1.0 %

NASDAQ CVKD opened at $17.57 on Wednesday. The company has a market cap of $31.33 million, a P/E ratio of -2.63 and a beta of 1.37. The company has a fifty day simple moving average of $18.00 and a 200 day simple moving average of $14.64. Cadrenal Therapeutics has a 12-month low of $5.40 and a 12-month high of $22.90.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright increased their price target on Cadrenal Therapeutics from $3.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, November 11th.

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.