HC Wainwright restated their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL - Free Report) in a report released on Monday morning,Benzinga reports. HC Wainwright currently has a $9.00 target price on the stock.
A number of other analysts have also weighed in on the stock. RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics to a "strong-buy" rating in a research note on Tuesday, January 28th. Rodman & Renshaw initiated coverage on Cardiol Therapeutics in a research note on Tuesday, January 28th. They set a "buy" rating and a $7.00 price objective for the company. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $8.40.
Read Our Latest Stock Analysis on Cardiol Therapeutics
Cardiol Therapeutics Price Performance
NASDAQ:CRDL remained flat at $1.18 during midday trading on Monday. 208,533 shares of the company traded hands, compared to its average volume of 268,525. Cardiol Therapeutics has a one year low of $1.06 and a one year high of $3.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. The company has a market capitalization of $97.48 million, a price-to-earnings ratio of -3.03 and a beta of 0.91. The company's fifty day simple moving average is $1.30 and its 200 day simple moving average is $1.67.
Institutional Trading of Cardiol Therapeutics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tejara Capital Ltd boosted its stake in shares of Cardiol Therapeutics by 75.9% during 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. PVG Asset Management Corp acquired a new position in Cardiol Therapeutics in the 4th quarter worth about $624,000. Envestnet Asset Management Inc. purchased a new position in Cardiol Therapeutics during the fourth quarter worth approximately $398,000. Atria Investments Inc acquired a new stake in Cardiol Therapeutics in the fourth quarter valued at approximately $174,000. Finally, Virtu Financial LLC purchased a new stake in shares of Cardiol Therapeutics in the fourth quarter valued at approximately $61,000. Institutional investors and hedge funds own 12.49% of the company's stock.
About Cardiol Therapeutics
(
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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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