Cadrenal Therapeutics (NASDAQ:CVKD) Shares Break Above Fifty Day Moving Average – Should You Sell?

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) shares passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $1.12 and traded as high as $1.14. Cadrenal Therapeutics shares last traded at $1.13, with a volume of 55,294 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Thursday, October 15th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.00.

Cadrenal Therapeutics Stock Performance

The business’s fifty day moving average price is $1.12 and its two-hundred day moving average price is $3.89. The firm has a market capitalization of $4.03 million, a P/E ratio of -0.23 and a beta of 1.94.

Cadrenal Therapeutics (NASDAQ:CVKD) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.28. Sell-side analysts predict that Cadrenal Therapeutics, Inc. will post -3.86 earnings per share for the current year.

Hedge Funds Weigh In On Cadrenal Therapeutics

An institutional investor recently bought a new position in Cadrenal Therapeutics stock. Courier Capital LLC acquired a new stake in shares of Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 39,674 shares of the company’s stock, valued at approximately $43,000. Courier Capital LLC owned about 1.11% of Cadrenal Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 7.92% of the company’s stock.

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.