Cadrenal Therapeutics (NASDAQ:CVKD) Releases Earnings Results, Beats Estimates By $0.47 EPS

Cadrenal Therapeutics (NASDAQ:CVKD) issued its quarterly earnings data on Thursday. The company reported ($1.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.47, FiscalAI reports.

Cadrenal Therapeutics Stock Up 1.2%

Shares of NASDAQ CVKD traded up $0.07 during mid-day trading on Friday, hitting $6.09. 65,332 shares of the company were exchanged, compared to its average volume of 65,332. Cadrenal Therapeutics has a 1-year low of $4.21 and a 1-year high of $16.25. The stock has a 50 day simple moving average of $6.20 and a 200-day simple moving average of $8.01. The firm has a market cap of $18.76 million, a price-to-earnings ratio of -1.08 and a beta of 1.81.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. HC Wainwright dropped their price objective on shares of Cadrenal Therapeutics from $32.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CVKD. DRW Securities LLC purchased a new stake in Cadrenal Therapeutics during the 4th quarter worth about $171,000. Citadel Advisors LLC acquired a new position in shares of Cadrenal Therapeutics in the 3rd quarter valued at about $274,000. JPMorgan Chase & Co. acquired a new position in Cadrenal Therapeutics during the 3rd quarter worth approximately $103,000. Finally, Geode Capital Management LLC lifted its position in Cadrenal Therapeutics by 14.3% during the 4th quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after acquiring an additional 1,818 shares in the last 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. Cadrenal Therapeutics, Inc was incorporated in 2022 and is headquartered in Ponte Vedra, Florida.