Cadrenal Therapeutics (NASDAQ:CVKD) Receives “Buy” Rating from HC Wainwright

Cadrenal Therapeutics (NASDAQ:CVKD)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $3.00 target price on the stock.

Cadrenal Therapeutics Stock Performance

Shares of NASDAQ:CVKD traded up $0.01 on Thursday, hitting $0.50. 63,205 shares of the company were exchanged, compared to its average volume of 359,445. The company’s 50 day moving average price is $0.54 and its two-hundred day moving average price is $0.65. The firm has a market capitalization of $7.97 million, a price-to-earnings ratio of -0.72 and a beta of 1.64. Cadrenal Therapeutics has a one year low of $0.36 and a one year high of $3.14.

Cadrenal Therapeutics (NASDAQ:CVKD) last announced its quarterly earnings data on Monday, March 11th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.04. Research analysts predict that Cadrenal Therapeutics will post -0.34 earnings per share for the current year.

Institutional Trading of Cadrenal Therapeutics

An institutional investor recently bought a new position in Cadrenal Therapeutics stock. Armistice Capital LLC acquired a new position in shares of Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) during the 3rd quarter, according to the company in its most recent Form 13F filing 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 quarter. Institutional investors and hedge funds own 7.92% of the company’s stock.

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.