AdvisorShares Investments LLC Lowers Position in Cardiol Therapeutics Inc. (NASDAQ:CRDL)

AdvisorShares Investments LLC decreased its holdings in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 24.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 882,488 shares of the company’s stock after selling 288,381 shares during the period. AdvisorShares Investments LLC owned 1.07% of Cardiol Therapeutics worth $1,130,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. purchased a new position in Cardiol Therapeutics during the fourth quarter valued at approximately $398,000. Virtu Financial LLC purchased a new position in shares of Cardiol Therapeutics in the 4th quarter valued at $61,000. Tejara Capital Ltd raised its position in shares of Cardiol Therapeutics by 75.9% in the 4th quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company’s stock worth $3,988,000 after acquiring an additional 1,344,167 shares in the last quarter. Atria Investments Inc purchased a new stake in shares of Cardiol Therapeutics during the 4th quarter worth $174,000. Finally, Jones Financial Companies Lllp bought a new stake in Cardiol Therapeutics during the fourth quarter valued at about $25,000. Institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Stock Performance

CRDL opened at $1.08 on Tuesday. The company has a market cap of $89.22 million, a P/E ratio of -2.77 and a beta of 1.00. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $1.05 and its 200-day moving average price is $1.35. Cardiol Therapeutics Inc. has a 52-week low of $0.77 and a 52-week high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL) last issued its quarterly earnings results on Monday, March 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. As a group, equities analysts anticipate that Cardiol Therapeutics Inc. will post -0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on CRDL shares. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a report on Wednesday, April 16th. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Rodman & Renshaw began coverage on shares of Cardiol Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $7.00 target price for the company. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $8.40.

About Cardiol Therapeutics

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.