Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Up 478.1% in June

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 42,200 shares, an increase of 478.1% from the May 31st total of 7,300 shares. Based on an average trading volume of 221,400 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.5% of the company’s stock are sold short.

Cadrenal Therapeutics Stock Up 3.2 %

Shares of NASDAQ:CVKD traded up $0.01 on Friday, reaching $0.47. The company had a trading volume of 60,804 shares, compared to its average volume of 286,930. The stock has a market capitalization of $7.52 million, a P/E ratio of -1.52 and a beta of 1.70. The stock has a 50-day moving average price of $0.45 and a 200 day moving average price of $0.64. Cadrenal Therapeutics has a twelve month low of $0.36 and a twelve month high of $3.14.

Cadrenal Therapeutics (NASDAQ:CVKD) last posted its earnings results on Thursday, May 9th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). On average, sell-side analysts predict that Cadrenal Therapeutics will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of Cadrenal Therapeutics in a research report on Thursday, June 6th.

Institutional Trading of Cadrenal Therapeutics

A hedge fund recently bought a new stake in Cadrenal Therapeutics stock. Armistice Capital LLC purchased a new stake in shares of Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 982,285 shares of the company’s stock, valued at approximately $668,000. Armistice Capital LLC owned 7.54% of Cadrenal Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 7.92% of the company’s stock.

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.