Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Grows By 22.8%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 19,400 shares, an increase of 22.8% from the August 31st total of 15,800 shares. Based on an average daily volume of 25,600 shares, the days-to-cover ratio is currently 0.8 days. Approximately 3.4% of the company’s stock are sold short.

Cadrenal Therapeutics Stock Performance

Shares of CVKD traded down $0.85 during mid-day trading on Monday, reaching $13.65. The company’s stock had a trading volume of 42,365 shares, compared to its average volume of 22,525. Cadrenal Therapeutics has a 12-month low of $5.40 and a 12-month high of $32.55. The company has a market cap of $218.51 million, a P/E ratio of -47.39 and a beta of 1.74.

Cadrenal Therapeutics (NASDAQ:CVKD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($2.25) EPS for the quarter, beating analysts’ consensus estimates of ($19.04) by $16.79. As a group, analysts predict that Cadrenal Therapeutics will post -6.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $0.20 price target on shares of Cadrenal Therapeutics in a report 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.