Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Drops By 41.5%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totalling 29,300 shares, a drop of 41.5% from the June 30th total of 50,100 shares. Based on an average daily volume of 94,400 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.3% of the shares of the stock are short sold.

Cadrenal Therapeutics Stock Performance

NASDAQ CVKD traded up $0.02 on Friday, reaching $0.45. 13,306 shares of the stock traded hands, compared to its average volume of 258,568. The firm’s fifty day simple moving average is $0.46 and its 200 day simple moving average is $0.62. Cadrenal Therapeutics has a 12 month low of $0.36 and a 12 month high of $2.17.

Cadrenal Therapeutics (NASDAQ:CVKD) last released its quarterly earnings data 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). Research analysts forecast that Cadrenal Therapeutics will post -0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.