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

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

A number of other research analysts have also recently weighed in on CRDL. RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th. Rodman & Renshaw initiated coverage on shares of Cardiol Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $7.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $8.40.

Cardiol Therapeutics Trading Down 4.7 %

CRDL opened at $1.01 on Wednesday. The stock has a 50-day moving average of $1.09 and a 200 day moving average of $1.41. 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 12 month low of $0.77 and a 12 month high of $3.12. The firm has a market cap of $83.44 million, a P/E ratio of -2.59 and a beta of 1.00.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings data on Monday, March 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. As a group, research analysts forecast that Cardiol Therapeutics will post -0.33 EPS for the current year.

Institutional Trading of Cardiol Therapeutics

A number of large investors have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new position in Cardiol Therapeutics in the 3rd quarter worth about $29,000. Virtu Financial LLC purchased a new position in shares of Cardiol Therapeutics during the fourth quarter worth approximately $61,000. Atria Investments Inc purchased a new position in shares of Cardiol Therapeutics during the fourth quarter worth approximately $174,000. Tejara Capital Ltd raised its stake in shares of Cardiol Therapeutics by 75.9% during the fourth quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company’s stock valued at $3,988,000 after acquiring an additional 1,344,167 shares in the last quarter. Finally, Lion Street Advisors LLC boosted its holdings in shares of Cardiol Therapeutics by 12.6% in the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock valued at $396,000 after purchasing an additional 34,385 shares during the period. 12.49% of the stock is owned by hedge funds and other institutional investors.

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.