Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Shares Shorted: Short Interest Up 165.6% in October

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 281,405 shares, a growth of 165.6% from the September 30th total of 105,945 shares. Based on an average daily volume of 310,361 shares, the short-interest ratio is presently 0.9 days. Currently, 9.2% of the company’s stock are sold short.

Hedge Funds Weigh In On Cadrenal Therapeutics

A hedge fund recently bought a new position in Cadrenal Therapeutics stock. Courier Capital LLC bought a new position in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) in the third quarter, according to its most recent filing with the SEC. The firm bought 39,674 shares of the company’s stock, valued at approximately $43,000. Courier Capital LLC owned approximately 1.11% of Cadrenal Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors own 7.92% of the company’s stock.

Cadrenal Therapeutics Stock Performance

CVKD stock traded down $0.00 on Thursday, hitting $0.94. 44,028 shares of the company’s stock were exchanged, compared to its average volume of 187,501. The firm has a 50 day moving average price of $1.15 and a two-hundred day moving average price of $4.00. Cadrenal Therapeutics has a 12-month low of $0.82 and a 12-month high of $13.75. The stock has a market cap of $3.37 million, a P/E ratio of -0.19 and a beta of 1.93.

Cadrenal Therapeutics (NASDAQ:CVKD) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.14) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.28. Sell-side analysts expect that Cadrenal Therapeutics will post -3.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Thursday, October 15th. One 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 currently has a consensus rating of “Hold” and a consensus price target of $13.00.

About Cadrenal Therapeutics

Cadrenal Therapeutics, Inc (NASDAQ: CVKD) is a clinical-stage biopharmaceutical company focused on developing therapies for patients who require long-term anticoagulation. The company’s lead product candidate is tecarfarin, an investigational oral anticoagulant designed for individuals with implanted mechanical heart valves and other mechanical circulatory support devices.

Tecarfarin is a vitamin K antagonist intended to address challenges associated with existing anticoagulant therapy, including drug interactions and changes in a patient’s metabolism.