Cadrenal Therapeutics price target lowered to $13 from $32 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Cadrenal Therapeutics (CVKD) to $13 from $32 and keeps a Buy rating on the shares to account for updated share count and financing needs, while incorporating CAD-1005 into the firm’s model. Cadrenal provided a corporate update highlighting continued progress for CAD-1005, including completion of its End-of-Phase 2 meeting with the FDA to align on a Phase 3 registrational path, the analyst noted.