Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Grows By 478.1%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) saw a significant increase in short interest in the month of 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. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 221,400 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Cadrenal Therapeutics

An institutional investor recently bought a new position in Cadrenal Therapeutics stock. Armistice Capital LLC acquired a new stake in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 982,285 shares of the company’s stock, valued at approximately $668,000. Armistice Capital LLC owned approximately 7.54% of Cadrenal Therapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

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

Cadrenal Therapeutics Trading Up 3.2 %

Shares of NASDAQ CVKD opened at $0.47 on Friday. The stock has a 50 day moving average of $0.45 and a two-hundred day moving average 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 released its earnings results on Thursday, May 9th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.03). On average, equities research analysts forecast that Cadrenal Therapeutics will post -0.36 earnings per share for the current fiscal year.

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.