Integrity Alliance LLC. Acquires New Position in Cardiol Therapeutics Inc. $CRDL

Integrity Alliance LLC. acquired a new stake in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 435,025 shares of the company’s stock, valued at approximately $416,000.

A number of other hedge funds also recently made changes to their positions in the stock. Tejara Capital Ltd grew its stake in shares of Cardiol Therapeutics by 95.1% during the 4th quarter. Tejara Capital Ltd now owns 5,130,122 shares of the company’s stock valued at $4,893,000 after acquiring an additional 2,500,000 shares during the period. Bank of America Corp DE grew its stake in shares of Cardiol Therapeutics by 1,983.0% during the 3rd quarter. Bank of America Corp DE now owns 551,053 shares of the company’s stock valued at $590,000 after acquiring an additional 524,598 shares during the period. Citadel Advisors LLC grew its stake in shares of Cardiol Therapeutics by 1,132.6% during the 3rd quarter. Citadel Advisors LLC now owns 463,462 shares of the company’s stock valued at $496,000 after acquiring an additional 425,862 shares during the period. Two Sigma Investments LP bought a new position in shares of Cardiol Therapeutics during the 3rd quarter valued at approximately $249,000. Finally, Virtu Financial LLC bought a new position in shares of Cardiol Therapeutics during the 3rd quarter valued at approximately $154,000. 12.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CRDL shares. Wall Street Zen downgraded Cardiol Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Canaccord Genuity Group reiterated a “buy” rating and set a $8.00 price objective on shares of Cardiol Therapeutics in a research note on Monday, April 6th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a report on Tuesday, February 10th. Finally, raised Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.50.

Cardiol Therapeutics Trading Down 4.7%

NASDAQ CRDL opened at $1.22 on Friday. The stock’s 50 day moving average is $1.32 and its 200 day moving average is $1.12. Cardiol Therapeutics Inc. has a 12 month low of $0.88 and a 12 month high of $1.71. The stock has a market cap of $136.42 million, a PE ratio of -4.36 and a beta of 0.77.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). On average, analysts forecast that Cardiol Therapeutics Inc. will post -0.31 EPS for the current fiscal year.

Cardiol Therapeutics Profile

Cardiol Therapeutics Inc (NASDAQ: CRDL) is a clinical-stage pharmaceutical company dedicated to developing immunomodulatory treatments for patients with cardiovascular disease. The company’s lead asset, CardiolRx, is a proprietary, pharmaceutical-grade cannabidiol (CBD) formulation designed to target the inflammation and oxidative stress underlying conditions such as acute myocardial injury and heart failure. Cardiol holds exclusive global rights to CardiolRx through a licensing partnership and is advancing additional preclinical programs focused on small-molecule immunotherapies for heart disease.

CardiolRx is formulated for oral administration and has been evaluated in a randomized, placebo-controlled Phase 2 myocardial protection study assessing safety and key biomarkers following acute coronary syndromes.