Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Decreases By 32.1%

by · The Cerbat Gem

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD – Get Free Report) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 55,656 shares, a decline of 32.1% from the June 30th total of 82,016 shares. Based on an average daily trading volume, of 117,234 shares, the short-interest ratio is presently 0.5 days. Approximately 2.4% of the shares of the company are short sold.

Insider Activity at Cadrenal Therapeutics

In other Cadrenal Therapeutics news, CEO Quang X. Pham sold 9,029 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $3.05, for a total value of $27,538.45. Following the completion of the transaction, the chief executive officer owned 105,989 shares in the company, valued at $323,266.45. This represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 97,500 shares of company stock worth $388,290 over the last three months. Company insiders own 26.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Cadrenal Therapeutics by 14.3% in the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after buying an additional 1,818 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Cadrenal Therapeutics in the 3rd quarter worth about $103,000. DRW Securities LLC purchased a new stake in shares of Cadrenal Therapeutics in the 4th quarter valued at about $171,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Cadrenal Therapeutics in the 3rd quarter valued at about $274,000. 7.92% of the stock is currently owned by hedge funds and other institutional investors.

Cadrenal Therapeutics Stock Down 3.8%

Shares of NASDAQ CVKD opened at $2.01 on Friday. The business has a 50-day simple moving average of $3.27 and a two-hundred day simple moving average of $5.24. Cadrenal Therapeutics has a 52 week low of $1.86 and a 52 week high of $14.64. The company has a market cap of $6.87 million, a P/E ratio of -0.36 and a beta of 1.73.

Cadrenal Therapeutics (NASDAQ:CVKD – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.04) EPS for the quarter, beating analysts’ consensus estimates of ($1.51) by $0.47. Equities research analysts anticipate that Cadrenal Therapeutics will post -4.01 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. HC Wainwright reduced their target price on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Wall Street Zen raised Cadrenal Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Cadrenal Therapeutics presently has an average rating of “Hold” and a consensus target price of $13.00.

Get Our Latest Analysis on Cadrenal Therapeutics

Cadrenal Therapeutics Company Profile

(Get Free Report)

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.

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