Cadrenal Therapeutics (NASDAQ:CVKD) Posts Quarterly Earnings Results

Cadrenal Therapeutics (NASDAQ:CVKD) posted its quarterly earnings results on Tuesday. The company reported ($1.41) EPS for the quarter, missing the consensus estimate of ($1.21) by ($0.20), FiscalAI reports.

Cadrenal Therapeutics Price Performance

Shares of Cadrenal Therapeutics stock opened at $4.25 on Tuesday. Cadrenal Therapeutics has a one year low of $4.21 and a one year high of $19.03. The business’s 50 day simple moving average is $6.83 and its two-hundred day simple moving average is $9.56. The stock has a market capitalization of $9.95 million, a P/E ratio of -0.53 and a beta of 1.03.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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 stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CVKD. JPMorgan Chase & Co. bought a new stake in Cadrenal Therapeutics during the 3rd quarter valued at $103,000. Geode Capital Management LLC raised its stake in shares of Cadrenal Therapeutics by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock valued at $98,000 after acquiring an additional 1,818 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Cadrenal Therapeutics during the third quarter worth about $274,000. Finally, DRW Securities LLC purchased a new stake in shares of Cadrenal Therapeutics during the fourth quarter worth about $171,000. 7.92% of the stock is owned by hedge funds and other institutional investors.

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.