HC Wainwright Has Lowered Expectations for Cadrenal Therapeutics (NASDAQ:CVKD) Stock Price

Cadrenal Therapeutics (NASDAQ:CVKD) had its target price reduced by HC Wainwright from $32.00 to $13.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 199.19% from the stock’s current price.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.00.

Cadrenal Therapeutics Stock Performance

CVKD stock traded down $0.31 on Tuesday, reaching $4.35. The company’s stock had a trading volume of 13,859 shares, compared to its average volume of 50,564. The firm has a market cap of $10.89 million, a PE ratio of -0.65 and a beta of 1.53. The business has a fifty day simple moving average of $6.57 and a two-hundred day simple moving average of $9.26. Cadrenal Therapeutics has a 12-month low of $4.21 and a 12-month high of $17.50.

Cadrenal Therapeutics (NASDAQ:CVKD) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($1.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.24). As a group, research analysts anticipate that Cadrenal Therapeutics will post -7.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cadrenal Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVKD. JPMorgan Chase & Co. bought a new position in Cadrenal Therapeutics in the third quarter worth $103,000. Citadel Advisors LLC bought a new stake in shares of Cadrenal Therapeutics during the 3rd quarter valued at $274,000. DRW Securities LLC purchased a new stake in shares of Cadrenal Therapeutics in the 4th quarter worth about $171,000. Finally, Geode Capital Management LLC increased its stake in shares of Cadrenal Therapeutics by 14.3% in 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. 7.92% of the stock is owned by hedge funds and other institutional investors.

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.