Cadrenal Therapeutics (NASDAQ:CVKD) Issues Quarterly Earnings Results, Beats Estimates By $0.47 EPS

Cadrenal Therapeutics (NASDAQ:CVKD) announced its earnings results on Thursday. The company reported ($1.04) earnings per share for the quarter, beating the consensus estimate of ($1.51) by $0.47, FiscalAI reports.

Cadrenal Therapeutics Stock Up 1.2%

Shares of CVKD traded up $0.07 during trading on Friday, reaching $6.09. The company’s stock had a trading volume of 65,332 shares, compared to its average volume of 65,332. The company has a fifty day moving average of $6.20 and a two-hundred day moving average of $8.01. Cadrenal Therapeutics has a twelve month low of $4.21 and a twelve month high of $16.25. The company has a market cap of $18.76 million, a price-to-earnings ratio of -1.08 and a beta of 1.81.

Analysts Set New Price Targets

Several analysts have commented on CVKD shares. Weiss Ratings restated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a report on Monday, April 20th. HC Wainwright lowered their price target on Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Wall Street Zen upgraded Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.00.

Institutional Investors Weigh In On Cadrenal Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CVKD. Geode Capital Management LLC grew its stake in Cadrenal Therapeutics by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after buying an additional 1,818 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Cadrenal Therapeutics in the third quarter worth $103,000. DRW Securities LLC bought a new position in shares of Cadrenal Therapeutics in the fourth quarter worth $171,000. Finally, Citadel Advisors LLC bought a new position in Cadrenal Therapeutics during the third quarter valued at about $274,000. 7.92% of the stock is owned by institutional investors and hedge funds.

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