Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Update

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 21,900 shares, a growth of 204.2% from the February 29th total of 7,200 shares. Based on an average daily trading volume, of 340,600 shares, the short-interest ratio is presently 0.1 days. Approximately 0.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On Cadrenal Therapeutics

A hedge fund recently bought a new stake in Cadrenal Therapeutics stock. Armistice Capital LLC bought a new position in shares of Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 982,285 shares of the company’s stock, valued at approximately $668,000. Armistice Capital LLC owned 7.54% of Cadrenal Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 7.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVKD. Noble Financial began coverage on Cadrenal Therapeutics in a research note on Monday, December 18th. They issued an “outperform” rating and a $4.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of Cadrenal Therapeutics in a research note on Thursday, March 14th.

Cadrenal Therapeutics Stock Performance

Shares of CVKD traded down $0.01 during midday trading on Wednesday, hitting $0.64. 46,375 shares of the company traded hands, compared to its average volume of 353,990. The stock has a market cap of $10.25 million, a price-to-earnings ratio of -0.88 and a beta of 1.24. Cadrenal Therapeutics has a 52 week low of $0.40 and a 52 week high of $3.14. The firm has a 50 day moving average of $0.89 and a 200-day moving average of $0.69.

About Cadrenal Therapeutics

Cadrenal Therapeutics, Inc operates as a clinical development biopharmaceutical company. The company focuses on developing Tecarfarin, a novel therapy with orphan drug indication for the prevention of systemic thromboembolism of cardiac origin in patients with end-stage renal disease and atrial fibrillation.