Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Drops By 28.9%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 29,500 shares, a decline of 28.9% from the February 13th total of 41,500 shares. Based on an average daily volume of 56,600 shares, the days-to-cover ratio is currently 0.5 days. Approximately 2.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Cadrenal Therapeutics

A hedge fund recently bought a new stake in Cadrenal Therapeutics stock. Geode Capital Management LLC purchased a new position in shares of Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,554 shares of the company’s stock, valued at approximately $153,000. Geode Capital Management LLC owned 0.59% of Cadrenal Therapeutics at the end of the most recent reporting period. Institutional investors own 7.92% of the company’s stock.

Cadrenal Therapeutics Stock Up 9.4 %

Shares of CVKD stock traded up $1.64 during trading hours on Friday, reaching $19.09. 45,612 shares of the company’s stock were exchanged, compared to its average volume of 38,898. The business has a fifty day moving average price of $18.31 and a 200-day moving average price of $15.08. The stock has a market capitalization of $34.04 million, a P/E ratio of -2.86 and a beta of 1.40. Cadrenal Therapeutics has a fifty-two week low of $5.40 and a fifty-two week high of $22.90.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($2.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.71) by ($1.03). As a group, research analysts expect that Cadrenal Therapeutics will post -7.59 EPS for the current fiscal 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.