Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Declines By 18.2%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 50,444 shares, a decline of 18.2% from the December 15th total of 61,671 shares. Based on an average trading volume of 83,684 shares, the short-interest ratio is presently 0.6 days. Approximately 2.9% of the shares of the company are short sold. Approximately 2.9% of the shares of the company are short sold. Based on an average trading volume of 83,684 shares, the short-interest ratio is presently 0.6 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Wednesday, October 8th. One 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 stock has an average rating of “Hold” and a consensus target price of $32.00.

Cadrenal Therapeutics Price Performance

NASDAQ:CVKD traded down $0.20 during mid-day trading on Tuesday, hitting $7.67. 15,784 shares of the company’s stock were exchanged, compared to its average volume of 57,672. The company has a market cap of $17.95 million, a PE ratio of -0.96 and a beta of 1.19. Cadrenal Therapeutics has a one year low of $6.42 and a one year high of $22.90. The business has a fifty day moving average price of $9.07 and a 200 day moving average price of $11.42.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.55) by $0.24. On average, equities analysts forecast that Cadrenal Therapeutics will post -7.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Matthew K. Szot sold 9,933 shares of Cadrenal Therapeutics stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $6.97, for a total value of $69,233.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 15,977 shares of company stock worth $153,834 over the last quarter. 26.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cadrenal Therapeutics

An institutional investor recently bought a new position in Cadrenal Therapeutics stock. JPMorgan Chase & Co. acquired a new position in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,500 shares of the company’s stock, valued at approximately $103,000. JPMorgan Chase & Co. owned 0.32% of Cadrenal Therapeutics as of its most recent SEC filing. 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. Cadrenal Therapeutics, Inc was incorporated in 2022 and is headquartered in Ponte Vedra, Florida.