Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Short Interest Up 204.2% in March

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 21,900 shares, an increase of 204.2% from the February 29th total of 7,200 shares. Based on an average daily trading volume, of 340,600 shares, the short-interest ratio is currently 0.1 days. Currently, 0.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Noble Financial assumed coverage on Cadrenal Therapeutics in a report on Monday, December 18th. They set an “outperform” rating and a $4.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of Cadrenal Therapeutics in a report on Thursday, March 14th.

Cadrenal Therapeutics Stock Performance

NASDAQ:CVKD traded down $0.02 during mid-day trading on Thursday, hitting $0.62. 29,986 shares of the stock were exchanged, compared to its average volume of 348,680. The stock has a market capitalization of $9.92 million, a price-to-earnings ratio of -0.93 and a beta of 1.24. The firm’s 50-day simple moving average is $0.89 and its 200 day simple moving average is $0.69. Cadrenal Therapeutics has a fifty-two week low of $0.40 and a fifty-two week high of $3.14.

Hedge Funds Weigh In On Cadrenal Therapeutics

A hedge fund recently bought a new stake in Cadrenal Therapeutics stock. Armistice Capital LLC purchased a new stake in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 982,285 shares of the company’s stock, valued at approximately $668,000. Armistice Capital LLC owned about 7.54% of Cadrenal Therapeutics as of its most recent filing with the Securities and Exchange Commission. 7.92% of the stock is owned by institutional investors.

About Cadrenal Therapeutics

Cadrenal Therapeutics, Inc operates as a clinical development biopharmaceutical company. The company focuses on developing Tecarfarin, a novel therapy with orphan drug indication for the prevention of systemic thromboembolism of cardiac origin in patients with end-stage renal disease and atrial fibrillation.