Cardiol Therapeutics (NASDAQ:CRDL) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a report released on Monday,Benzinga reports. The firm currently has a $9.00 target price on the stock.

A number of other analysts have also recently weighed in on CRDL. RODMAN&RENSHAW raised Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th. Rodman & Renshaw assumed coverage on Cardiol Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardiol Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $8.40.

Cardiol Therapeutics Stock Up 6.3 %

Cardiol Therapeutics stock opened at $1.18 on Monday. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a 1-year low of $1.06 and a 1-year high of $3.12. The firm’s fifty day simple moving average is $1.30 and its 200-day simple moving average is $1.67. The company has a market capitalization of $97.48 million, a P/E ratio of -3.03 and a beta of 0.91.

Hedge Funds Weigh In On Cardiol Therapeutics

Several large investors have recently bought and sold shares of the stock. Tejara Capital Ltd lifted its position in Cardiol Therapeutics by 75.9% in the fourth quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company’s stock worth $3,988,000 after purchasing an additional 1,344,167 shares during the period. PVG Asset Management Corp bought a new position in Cardiol Therapeutics during the fourth quarter worth about $624,000. Envestnet Asset Management Inc. bought a new stake in shares of Cardiol Therapeutics in the 4th quarter valued at approximately $398,000. Lion Street Advisors LLC raised its holdings in shares of Cardiol Therapeutics by 12.6% in the 4th quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after buying an additional 34,385 shares in the last quarter. Finally, Atria Investments Inc bought a new position in shares of Cardiol Therapeutics during the 4th quarter worth approximately $174,000. 12.49% of the stock is currently 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.