Short Interest in Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) Decreases By 91.8%

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) was the target of a significant decline in short interest in August. As of August 15th, there was short interest totalling 4,000 shares, a decline of 91.8% from the July 31st total of 49,000 shares. Based on an average daily trading volume, of 16,500 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.7% of the company’s shares are short sold.

Wall Street Analyst Weigh In

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

Cadrenal Therapeutics Price Performance

NASDAQ:CVKD traded down $0.59 during trading hours on Wednesday, reaching $7.31. 28,224 shares of the company were exchanged, compared to its average volume of 20,202. The firm has a market cap of $117.02 million, a price-to-earnings ratio of -23.58 and a beta of 1.71. The stock has a 50 day simple moving average of $1.28 and a 200 day simple moving average of $0.80. Cadrenal Therapeutics has a 52-week low of $5.40 and a 52-week 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.