Cadrenal Therapeutics (NASDAQ:CVKD) Shares Up 11.6% – Time to Buy?

Cadrenal Therapeutics, Inc. (NASDAQ:CVKD) shares were up 11.6% during mid-day trading on Friday . The stock traded as high as $18.00 and last traded at $16.17. Approximately 202,004 shares changed hands during mid-day trading, an increase of 489% from the average daily volume of 34,292 shares. The stock had previously closed at $14.49.

Wall Street Analyst Weigh In

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

Cadrenal Therapeutics Stock Performance

The firm has a 50 day simple moving average of $14.78. The firm has a market cap of $26.83 million, a price-to-earnings ratio of -2.42 and a beta of 1.22.

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.