Cardiol Therapeutics’ (CRDL) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report released on Thursday, Benzinga reports. They currently have a $9.00 price target on the stock.

Other research analysts have also recently issued research reports about the stock. Roth Mkm assumed coverage on shares of Cardiol Therapeutics in a research note on Wednesday, June 26th. They set a “buy” rating and a $10.00 target price on the stock. Roth Capital raised Cardiol Therapeutics to a “strong-buy” rating in a report on Wednesday, June 26th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $8.75.

Cardiol Therapeutics Stock Performance

NASDAQ CRDL traded down $0.02 during trading hours on Thursday, hitting $1.86. 36,370 shares of the company’s stock traded hands, compared to its average volume of 418,016. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a 52 week low of $0.72 and a 52 week high of $3.12. The firm has a market capitalization of $128.43 million, a P/E ratio of -5.37 and a beta of 0.89. The business’s fifty day moving average price is $2.01 and its two-hundred day moving average price is $2.08.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. Equities research analysts predict that Cardiol Therapeutics will post -0.33 EPS for the current year.

Institutional Trading of Cardiol Therapeutics

Several institutional investors have recently bought and sold shares of the business. AdvisorShares Investments LLC lifted its stake in Cardiol Therapeutics by 12.7% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock valued at $2,934,000 after buying an additional 164,994 shares in the last quarter. Lion Street Advisors LLC grew its stake in shares of Cardiol Therapeutics by 7.9% in the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock worth $544,000 after acquiring an additional 20,000 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in Cardiol Therapeutics by 237.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock worth $321,000 after purchasing an additional 113,950 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in shares of Cardiol Therapeutics in the 2nd quarter valued at approximately $59,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Cardiol Therapeutics during the third quarter worth approximately $27,000. 12.49% of the stock is owned by institutional investors and hedge funds.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc, a clinical-stage life sciences company, focuses on the research and development of anti-fibrotic and anti-inflammatory therapies for the treatment of heart diseases. Its lead product CardiolRx, which is in Phase II multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx in acute myocarditis, as well as for the treatment of recurrent pericarditis.