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

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

Analysts Set New Price Targets

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

Cadrenal Therapeutics Trading Down 0.9 %

Shares of Cadrenal Therapeutics stock opened at $17.73 on Wednesday. The company’s fifty day simple moving average is $13.09. The stock has a market cap of $18.94 million, a price-to-earnings ratio of -2.68 and a beta of 1.52. Cadrenal Therapeutics has a 1 year low of $5.40 and a 1 year high of $32.55.

Cadrenal Therapeutics Company Profile

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.