Cadrenal Therapeutics (NASDAQ:CVKD) Shares Up 0.8% – Here’s Why

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD)’s stock price shot up 0.8% during mid-day trading on Wednesday . The stock traded as high as $17.00 and last traded at $16.88. 19,606 shares were traded during trading, a decline of 49% from the average session volume of 38,671 shares. The stock had previously closed at $16.74.

Cadrenal Therapeutics Price Performance

The stock has a market capitalization of $31.73 million, a P/E ratio of -2.53 and a beta of 1.42. The stock has a fifty day moving average price of $17.60 and a 200 day moving average price of $16.41.

Cadrenal Therapeutics (NASDAQ:CVKD) last issued its 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). Research analysts anticipate that Cadrenal Therapeutics, Inc. will post -7.59 earnings per share for the current year.

Institutional Trading of Cadrenal Therapeutics

A hedge fund recently bought a new stake in Cadrenal Therapeutics stock. Geode Capital Management LLC acquired a new position in 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.

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.