Cardiol Therapeutics (TSE:CRDL) Trading 11.6% Higher – Here’s Why

Cardiol Therapeutics Inc. (TSE:CRDL) was up 11.6% on Wednesday . The company traded as high as C$3.10 and last traded at C$3.08. 299,995 shares changed hands during mid-day trading, an increase of 168% from the average daily volume of 112,062 shares. The stock had previously closed at C$2.76.

Cardiol Therapeutics Price Performance

The company has a market cap of C$357.48 million, a price-to-earnings ratio of -9.00 and a beta of 0.27. The company’s 50-day simple moving average is C$1.83 and its 200-day simple moving average is C$1.71. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.55 and a quick ratio of 6.84.

Cardiol Therapeutics (TSE:CRDL) last posted its earnings results on Wednesday, August 12th. The company reported C($0.05) EPS for the quarter. On average, equities research analysts anticipate that Cardiol Therapeutics Inc. will post -0.49 EPS for the current year.

About Cardiol Therapeutics

Cardiol Therapeutics Inc ( NASDAQ: CRDL ) ( TSX: CRDL ) is a late-stage life sciences company focused on advancing the development of anti-inflammatory and anti-fibrotic therapies for heart disease. The Company’s lead small-molecule drug candidate, CardiolRx¿, modulates inflammasome pathway activation, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with pericarditis, myocarditis, and heart failure. The MAVERIC Program is evaluating CardiolRx¿ for the treatment of recurrent pericarditis, an inflammatory disease of the pericardium associated with symptoms including debilitating chest pain, shortness of breath, and fatigue, which can lead to physical limitations, reduced quality of life, emergency department visits, and hospitalizations.