Cardiol Therapeutics Inc. (NASDAQ:CRDL) Given Average Recommendation of "Buy" by Analysts

Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) has received a consensus recommendation of "Buy" from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.40.

A number of equities analysts have issued reports on CRDL shares. HC Wainwright restated a "buy" rating and set a $9.00 price target on shares of Cardiol Therapeutics in a report on Wednesday, December 18th. Rodman & Renshaw initiated coverage on shares of Cardiol Therapeutics in a report on Tuesday. They issued a "buy" rating and a $7.00 price target for the company.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Townsquare Capital LLC purchased a new stake in shares of Cardiol Therapeutics during the third quarter worth $27,000. Jane Street Group LLC bought a new position in Cardiol Therapeutics in the 3rd quarter worth $29,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Cardiol Therapeutics in the 3rd quarter worth approximately $27,000. Foundations Investment Advisors LLC grew its stake in Cardiol Therapeutics by 237.4% in the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company's stock worth $321,000 after purchasing an additional 113,950 shares during the period. Finally, Lion Street Advisors LLC increased its stake in shares of Cardiol Therapeutics by 7.9% in the 3rd quarter. Lion Street Advisors LLC now owns 273,281 shares of the company's stock worth $544,000 after acquiring an additional 20,000 shares in the last quarter. 12.49% of the stock is owned by institutional investors.

Cardiol Therapeutics Trading Up 1.6 %

CRDL traded up $0.02 during trading on Tuesday, reaching $1.31. 205,463 shares of the stock traded hands, compared to its average volume of 266,939. The stock's 50-day moving average is $1.38 and its 200 day moving average is $1.79. Cardiol Therapeutics has a 12 month low of $0.96 and a 12 month high of $3.12. The stock has a market capitalization of $108.22 million, a PE ratio of -3.36 and a beta of 0.89. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01.

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.