Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Sees Significant Increase in Short Interest

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 15,800 shares, a growth of 295.0% from the August 15th total of 4,000 shares. Based on an average trading volume of 20,200 shares, the short-interest ratio is currently 0.8 days. Currently, 2.8% of the company’s stock are sold short.

Cadrenal Therapeutics Price Performance

Cadrenal Therapeutics stock traded down $0.31 during mid-day trading on Friday, reaching $10.39. The stock had a trading volume of 83,195 shares, compared to its average volume of 21,140. Cadrenal Therapeutics has a one year low of $5.40 and a one year high of $32.55. The stock has a market cap of $11.12 million, a price-to-earnings ratio of -36.26 and a beta of 1.74.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $0.20 price objective on shares of Cadrenal Therapeutics in a research note on Thursday, June 6th.

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.