Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Stock Short Interest Climbs 165.6%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 281,405 shares, a growth of 165.6% from the September 30th total of 105,945 shares. Currently, 9.2% of the shares of the company are short sold. Based on an average daily volume of 310,361 shares, the short-interest ratio is presently 0.9 days.

Hedge Funds Weigh In On Cadrenal Therapeutics

An institutional investor recently bought a new stake in Cadrenal Therapeutics stock. Courier Capital LLC bought a new stake in shares of Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 39,674 shares of the company’s stock, valued at approximately $43,000. Courier Capital LLC owned about 1.11% 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 and hedge funds.

Cadrenal Therapeutics Stock Up 4.4%

Shares of NASDAQ:CVKD opened at $0.98 on Friday. Cadrenal Therapeutics has a 52 week low of $0.82 and a 52 week high of $13.75. The stock has a market capitalization of $3.51 million, a P/E ratio of -0.20 and a beta of 1.93. The firm has a fifty day simple moving average of $1.14 and a two-hundred day simple moving average of $3.97.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its earnings results on Thursday, August 13th. The company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.28. On average, analysts expect that Cadrenal Therapeutics will post -3.86 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Thursday, October 15th. 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, the company has a consensus rating of “Hold” and a consensus target price of $13.00.

About Cadrenal Therapeutics

Cadrenal Therapeutics, Inc (NASDAQ: CVKD) is a clinical-stage biopharmaceutical company focused on developing therapies for patients who require long-term anticoagulation. The company’s lead product candidate is tecarfarin, an investigational oral anticoagulant designed for individuals with implanted mechanical heart valves and other mechanical circulatory support devices.

Tecarfarin is a vitamin K antagonist intended to address challenges associated with existing anticoagulant therapy, including drug interactions and changes in a patient’s metabolism.