Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Down 32.1% in July

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 55,656 shares, a decrease of 32.1% from the June 30th total of 82,016 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily volume of 117,234 shares, the days-to-cover ratio is presently 0.5 days.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Friday, July 17th. HC Wainwright decreased their target price on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, Wall Street Zen upgraded Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. 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 MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.00.

Insider Buying and Selling at Cadrenal Therapeutics

In other news, CEO Quang X. Pham sold 9,029 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $3.05, for a total value of $27,538.45. Following the completion of the transaction, the chief executive officer owned 105,989 shares in the company, valued at approximately $323,266.45. This represents a 7.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 97,500 shares of company stock worth $388,290. 26.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Cadrenal Therapeutics by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock valued at $98,000 after acquiring an additional 1,818 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Cadrenal Therapeutics in the 3rd quarter worth approximately $103,000. DRW Securities LLC bought a new position in shares of Cadrenal Therapeutics in the fourth quarter valued at $171,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Cadrenal Therapeutics during the third quarter valued at $274,000. Institutional investors and hedge funds own 7.92% of the company’s stock.

Cadrenal Therapeutics Trading Down 3.8%

Shares of Cadrenal Therapeutics stock opened at $2.01 on Friday. The stock has a market cap of $6.87 million, a price-to-earnings ratio of -0.36 and a beta of 1.73. Cadrenal Therapeutics has a twelve month low of $1.86 and a twelve month high of $14.64. The company has a fifty day moving average price of $3.27 and a 200 day moving average price of $5.24.

Cadrenal Therapeutics (NASDAQ:CVKD) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.47. Analysts forecast that Cadrenal Therapeutics will post -4.01 earnings per share for the current year.

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.