Cardiol Therapeutics (NASDAQ:CRDL) Coverage Initiated by Analysts at HC Wainwright

Equities research analysts at HC Wainwright started coverage on shares of Cardiol Therapeutics (NASDAQ:CRDLGet Free Report) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $9.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 408.47% from the stock’s previous close.

Cardiol Therapeutics Stock Performance

Shares of CRDL opened at $1.77 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.36 and a current ratio of 4.36. Cardiol Therapeutics has a 1 year low of $0.52 and a 1 year high of $2.17. The firm has a fifty day moving average of $1.65 and a 200-day moving average of $1.18. The company has a market cap of $120.86 million, a price-to-earnings ratio of -5.36 and a beta of 0.95.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Tejara Capital Ltd bought a new position in Cardiol Therapeutics in the 4th quarter worth approximately $225,000. Advisor Group Holdings Inc. grew its stake in shares of Cardiol Therapeutics by 2,240.7% in the first quarter. Advisor Group Holdings Inc. now owns 113,058 shares of the company’s stock worth $173,000 after purchasing an additional 108,228 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Cardiol Therapeutics during the first quarter valued at $52,000. Vident Investment Advisory LLC raised its stake in shares of Cardiol Therapeutics by 139.6% during the first quarter. Vident Investment Advisory LLC now owns 126,157 shares of the company’s stock valued at $195,000 after purchasing an additional 73,512 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Cardiol Therapeutics during the fourth quarter valued at about $32,000. Institutional investors own 12.49% of the company’s stock.

About Cardiol Therapeutics

(Get Free Report)

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 cardiovascular disease (CVD). Its lead product CardiolRx, which is in Phase II/III multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx for patients hospitalized with COVID-19, as well as for the treatment of recurrent pericarditis and acute myocarditis.

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