Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Expands By 65.3%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 39,500 shares, a growth of 65.3% from the October 15th total of 23,900 shares. Approximately 9.1% of the company’s stock are short sold. Based on an average trading volume of 58,100 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright raised their price objective on Cadrenal Therapeutics from $3.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday.

Cadrenal Therapeutics Price Performance

CVKD stock traded up $0.01 during trading on Thursday, hitting $16.57. The stock had a trading volume of 63,551 shares, compared to its average volume of 30,027. The stock has a market cap of $17.73 million, a PE ratio of -2.48 and a beta of 1.52. The business’s 50-day moving average price is $13.45. Cadrenal Therapeutics has a twelve month low of $5.40 and a twelve month high of $32.55.

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.