Cadrenal Therapeutics (NASDAQ:CVKD) Issues Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Cadrenal Therapeutics (NASDAQ:CVKD) posted its earnings results on Tuesday. The company reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.20), FiscalAI reports.

Cadrenal Therapeutics Trading Up 7.0%

NASDAQ CVKD opened at $4.55 on Tuesday. The business’s 50-day moving average price is $6.83 and its two-hundred day moving average price is $9.56. The firm has a market capitalization of $10.64 million, a PE ratio of -0.57 and a beta of 1.03. Cadrenal Therapeutics has a 12 month low of $4.21 and a 12 month high of $19.03.

Hedge Funds Weigh In On Cadrenal Therapeutics

Several institutional investors have recently modified their holdings of CVKD. Geode Capital Management LLC lifted its holdings in Cadrenal Therapeutics by 14.3% during the fourth 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 during the period. JPMorgan Chase & Co. bought a new position in Cadrenal Therapeutics in the 3rd quarter valued at $103,000. DRW Securities LLC purchased a new stake in shares of Cadrenal Therapeutics during the 4th quarter valued at $171,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Cadrenal Therapeutics during the 3rd quarter valued at $274,000. 7.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cadrenal Therapeutics presently has an average rating of “Hold” and an average price target of $32.00.

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.