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

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

Cadrenal Therapeutics Stock Performance

Cadrenal Therapeutics stock traded up $0.22 during trading on Tuesday, reaching $20.09. The company had a trading volume of 20,786 shares, compared to its average volume of 38,894. The firm has a market capitalization of $35.82 million, a PE ratio of -3.00 and a beta of 1.40. The firm’s 50-day simple moving average is $18.38 and its 200 day simple moving average is $15.23. Cadrenal Therapeutics has a 1-year low of $5.40 and a 1-year high of $22.90.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its earnings results on Thursday, March 13th. The company reported ($2.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.71) by ($1.03). Analysts anticipate that Cadrenal Therapeutics will post -7.59 EPS for the current year.

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 position in shares of Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,554 shares of the company’s stock, valued at approximately $153,000. Geode Capital Management LLC owned approximately 0.59% of Cadrenal Therapeutics as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 7.92% of the company’s stock.

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.