Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Drops By 28.9%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 29,500 shares, a decline of 28.9% from the February 13th total of 41,500 shares. Currently, 2.4% of the company’s shares are sold short. Based on an average daily trading volume, of 56,600 shares, the days-to-cover ratio is currently 0.5 days.

Cadrenal Therapeutics Stock Performance

Shares of NASDAQ:CVKD traded up $1.64 during trading on Friday, reaching $19.09. 45,612 shares of the stock were exchanged, compared to its average volume of 38,898. The firm has a market cap of $34.04 million, a price-to-earnings ratio of -2.86 and a beta of 1.40. The firm’s 50-day moving average price is $18.31 and its 200 day moving average price is $15.08. Cadrenal Therapeutics has a 12-month low of $5.40 and a 12-month high of $22.90.

Cadrenal Therapeutics (NASDAQ:CVKD) last released its quarterly earnings results on Thursday, March 13th. The company reported ($2.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.71) by ($1.03). As a group, equities research analysts forecast that Cadrenal Therapeutics will post -7.59 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cadrenal Therapeutics stock. Geode Capital Management LLC acquired a new stake in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,554 shares of the company’s stock, valued at approximately $153,000. Geode Capital Management LLC owned 0.59% of Cadrenal Therapeutics as of its most recent SEC filing. Institutional investors own 7.92% of the company’s stock.

About Cadrenal Therapeutics

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.