Cadrenal Therapeutics (NASDAQ:CVKD) Posts Quarterly Earnings Results

Cadrenal Therapeutics (NASDAQ:CVKD) posted its quarterly earnings results on Thursday. The company reported ($1.04) EPS for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.47, FiscalAI reports.

Cadrenal Therapeutics Stock Performance

CVKD traded up $0.07 on Friday, reaching $6.09. The company had a trading volume of 65,332 shares, compared to its average volume of 65,332. Cadrenal Therapeutics has a 52-week low of $4.21 and a 52-week high of $16.25. The company has a market cap of $18.76 million, a price-to-earnings ratio of -1.08 and a beta of 1.81. The business has a 50 day simple moving average of $6.20 and a 200 day simple moving average of $8.01.

Institutional Trading of Cadrenal Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CVKD. JPMorgan Chase & Co. purchased a new position in Cadrenal Therapeutics in the third quarter worth $103,000. Geode Capital Management LLC lifted its stake in Cadrenal Therapeutics by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after purchasing an additional 1,818 shares during the last quarter. Citadel Advisors LLC bought a new stake in Cadrenal Therapeutics during the third quarter worth about $274,000. Finally, DRW Securities LLC purchased a new position in shares of Cadrenal Therapeutics in the 4th quarter worth about $171,000. Hedge funds and other institutional investors own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

CVKD has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. Wall Street Zen upgraded Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, HC Wainwright decreased their price target on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cadrenal Therapeutics currently has an average rating of “Hold” and a consensus price target of $13.00.

About Cadrenal Therapeutics

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.