Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Up 22.1% in January

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the target of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 71,276 shares, a growth of 22.1% from the January 15th total of 58,362 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average daily volume of 45,834 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 45,834 shares, the days-to-cover ratio is currently 1.6 days. Currently, 4.1% of the shares of the company are sold short.

Cadrenal Therapeutics Price Performance

Shares of Cadrenal Therapeutics stock opened at $5.53 on Tuesday. Cadrenal Therapeutics has a 1-year low of $5.34 and a 1-year high of $22.90. The business’s fifty day moving average price is $7.50 and its two-hundred day moving average price is $10.68. The company has a market capitalization of $12.94 million, a P/E ratio of -0.69 and a beta of 1.18.

Insider Activity

In related news, CFO Matthew K. Szot sold 9,933 shares of the company’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $6.97, for a total transaction of $69,233.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 26.09% of the company’s stock.

Institutional Investors Weigh In On Cadrenal Therapeutics

Several institutional investors have recently bought and sold shares of CVKD. Geode Capital Management LLC increased 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 valued at $98,000 after buying an additional 1,818 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Cadrenal Therapeutics in the third quarter valued at approximately $103,000. DRW Securities LLC acquired a new position in shares of Cadrenal Therapeutics during the 4th quarter valued at $171,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Cadrenal Therapeutics in the third quarter valued at $274,000. Institutional investors and hedge funds own 7.92% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.