Cadrenal Therapeutics (NASDAQ:CVKD) Stock Price Up 14.3% – Here’s Why

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD)’s stock price was up 14.3% during trading on Wednesday . The stock traded as high as $20.63 and last traded at $19.89. Approximately 125,227 shares changed hands during trading, an increase of 114% from the average daily volume of 58,609 shares. The stock had previously closed at $17.40.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright raised their price objective on shares of Cadrenal Therapeutics from $3.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, November 11th.

Cadrenal Therapeutics Price Performance

The company has a 50 day simple moving average of $14.98. The company has a market capitalization of $34.43 million, a price-to-earnings ratio of -2.90 and a beta of 1.26.

Cadrenal Therapeutics (NASDAQ:CVKD) last posted its earnings results on Thursday, November 7th. The company reported ($2.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.35). Sell-side analysts predict that Cadrenal Therapeutics, Inc. will post -7.59 EPS for the current fiscal year.

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.