Cardiol Therapeutics Inc. (NASDAQ:CRDL) Short Interest Update

Cardiol Therapeutics Inc. (NASDAQ:CRDL) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,870,000 shares, a growth of 26.4% from the February 13th total of 1,480,000 shares. Based on an average trading volume of 299,700 shares, the short-interest ratio is currently 6.2 days. Approximately 2.4% of the company’s shares are short sold.

Institutional Trading of Cardiol Therapeutics

Large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in shares of Cardiol Therapeutics during the fourth quarter worth $25,000. Townsquare Capital LLC purchased a new stake in shares of Cardiol Therapeutics during the third quarter worth $27,000. Jane Street Group LLC purchased a new stake in shares of Cardiol Therapeutics during the third quarter worth $29,000. Cetera Investment Advisers purchased a new stake in shares of Cardiol Therapeutics during the fourth quarter worth $56,000. Finally, Virtu Financial LLC purchased a new stake in shares of Cardiol Therapeutics during the fourth quarter worth $61,000. Hedge funds and other institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Stock Down 4.3 %

Shares of Cardiol Therapeutics stock traded down $0.05 during trading hours on Tuesday, reaching $1.12. 88,003 shares of the company were exchanged, compared to its average volume of 389,164. Cardiol Therapeutics has a 1 year low of $1.02 and a 1 year high of $3.12. The stock’s fifty day moving average is $1.25 and its 200 day moving average is $1.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. The firm has a market cap of $92.52 million, a PE ratio of -2.87 and a beta of 0.95.

Analysts Set New Price Targets

A number of research analysts have commented on the company. RODMAN&RENSHAW upgraded Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 28th. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Cardiol Therapeutics in a research note on Monday, February 24th. Finally, Rodman & Renshaw assumed coverage on Cardiol Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $7.00 price target on the stock. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $8.40.

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.