Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Increases By 74.2%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 51,400 shares, a growth of 74.2% from the February 28th total of 29,500 shares. Based on an average daily volume of 51,600 shares, the days-to-cover ratio is currently 1.0 days. Currently, 4.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Cadrenal Therapeutics

An institutional investor recently bought a new position in Cadrenal Therapeutics stock. Geode Capital Management LLC purchased a new position in shares of Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,554 shares of the company’s stock, valued at approximately $153,000. Geode Capital Management LLC owned about 0.59% of Cadrenal Therapeutics at the end of the most recent reporting period. 7.92% of the stock is currently owned by institutional investors.

Cadrenal Therapeutics Stock Performance

CVKD stock traded down $0.25 during mid-day trading on Friday, reaching $18.46. The company had a trading volume of 9,884 shares, compared to its average volume of 39,807. Cadrenal Therapeutics has a fifty-two week low of $5.40 and a fifty-two week high of $22.90. The company has a market capitalization of $34.70 million, a price-to-earnings ratio of -2.76 and a beta of 1.40. The firm has a fifty day simple moving average of $18.79 and a 200 day simple moving average of $15.89.

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