HC Wainwright reaffirmed their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL - Free Report) in a research report released on Wednesday,Benzinga reports. They currently have a $9.00 price target on the stock.
Cardiol Therapeutics Stock Performance
Shares of CRDL traded down $0.09 during mid-day trading on Wednesday, hitting $1.56. 578,587 shares of the company traded hands, compared to its average volume of 419,636. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. Cardiol Therapeutics has a 1 year low of $0.79 and a 1 year high of $3.12. The stock has a market cap of $127.30 million, a price-to-earnings ratio of -4.23 and a beta of 0.91. The stock has a 50-day moving average price of $1.98 and a two-hundred day moving average price of $2.09.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of CRDL. AdvisorShares Investments LLC raised its position in shares of Cardiol Therapeutics by 12.7% during the second quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company's stock valued at $2,934,000 after buying an additional 164,994 shares during the last quarter. Lion Street Advisors LLC lifted its position in Cardiol Therapeutics by 7.9% during the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company's stock valued at $544,000 after purchasing an additional 20,000 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in Cardiol Therapeutics by 237.4% during the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company's stock worth $321,000 after acquiring an additional 113,950 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in Cardiol Therapeutics during the 2nd quarter valued at $59,000. Finally, Jane Street Group LLC bought a new stake in shares of Cardiol Therapeutics in the 3rd quarter worth about $29,000. Institutional investors own 12.49% of the company's stock.
Cardiol Therapeutics Company Profile
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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.
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