Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Up 95.5% in February

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the recipient of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 110,378 shares, an increase of 95.5% from the February 12th total of 56,472 shares. Based on an average daily volume of 66,749 shares, the days-to-cover ratio is presently 1.7 days. Approximately 6.4% of the shares of the company are short sold. Approximately 6.4% of the shares of the company are short sold. Based on an average daily volume of 66,749 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cadrenal Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $32.00.

Insider Activity at Cadrenal Therapeutics

In related news, CFO Matthew K. Szot sold 9,933 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $6.97, for a total value of $69,233.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 26.09% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cadrenal Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. DRW Securities LLC purchased a new stake in shares of Cadrenal Therapeutics during the 4th quarter valued at approximately $171,000. Citadel Advisors LLC acquired a new stake in Cadrenal Therapeutics during the third quarter worth $274,000. JPMorgan Chase & Co. acquired a new stake in Cadrenal Therapeutics during the third quarter worth $103,000. Finally, Geode Capital Management LLC raised its position in Cadrenal Therapeutics by 14.3% in the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock valued at $98,000 after purchasing an additional 1,818 shares during the period. 7.92% of the stock is currently owned by institutional investors and hedge funds.

Cadrenal Therapeutics Stock Performance

NASDAQ CVKD traded down $0.62 on Thursday, reaching $7.18. 45,505 shares of the company were exchanged, compared to its average volume of 54,232. The business’s fifty day moving average price is $7.21 and its 200 day moving average price is $10.20. Cadrenal Therapeutics has a fifty-two week low of $4.91 and a fifty-two week high of $20.39.

Cadrenal Therapeutics Company Profile

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. Cadrenal Therapeutics, Inc was incorporated in 2022 and is headquartered in Ponte Vedra, Florida.