Cadrenal Therapeutics (NASDAQ:CVKD) Earns Buy Rating from HC Wainwright

Cadrenal Therapeutics (NASDAQ:CVKD)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $32.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 106.45% from the stock’s previous close.

Cadrenal Therapeutics Stock Performance

NASDAQ:CVKD opened at $15.50 on Friday. The company has a market capitalization of $30.49 million, a price-to-earnings ratio of -2.32 and a beta of 1.46. Cadrenal Therapeutics has a one year low of $5.70 and a one year high of $22.90. The stock has a 50-day simple moving average of $16.70 and a 200 day simple moving average of $16.56.

Cadrenal Therapeutics (NASDAQ:CVKD) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($2.09) earnings per share for the quarter, missing the consensus estimate of ($1.64) by ($0.45). On average, equities research analysts forecast that Cadrenal Therapeutics will post -7.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Cadrenal Therapeutics

An institutional investor recently bought a new position in Cadrenal Therapeutics stock. Geode Capital Management LLC acquired a new position in shares of Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 and Exchange Commission. Hedge funds and other 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.