Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Up 74.2% in March

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

Institutional Investors Weigh In On Cadrenal Therapeutics

A hedge fund recently bought a new stake in Cadrenal Therapeutics stock. Geode Capital Management LLC acquired a new stake in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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. Hedge funds and other institutional investors own 7.92% of the company’s stock.

Cadrenal Therapeutics Trading Down 1.3 %

NASDAQ:CVKD traded down $0.25 during trading hours on Friday, hitting $18.46. The company’s stock had a trading volume of 9,884 shares, compared to its average volume of 39,807. The stock has a fifty day moving average of $18.79 and a 200-day moving average of $15.83. The stock has a market capitalization of $34.70 million, a P/E ratio of -2.76 and a beta of 1.40. Cadrenal Therapeutics has a 52-week low of $5.40 and a 52-week high of $22.90.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($2.74) EPS for the quarter, missing the consensus estimate of ($1.71) by ($1.03). On average, sell-side analysts forecast 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.