HC Wainwright Reiterates "Buy" Rating for Cardiol Therapeutics (NASDAQ:CRDL)

HC Wainwright reaffirmed their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL - Free Report) in a research note published on Thursday, Benzinga reports. HC Wainwright currently has a $9.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Roth Capital upgraded Cardiol Therapeutics to a "strong-buy" rating in a research report on Wednesday, June 26th. Roth Mkm started coverage on shares of Cardiol Therapeutics in a report on Wednesday, June 26th. They set a "buy" rating and a $10.00 price objective on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cardiol Therapeutics has an average rating of "Buy" and a consensus target price of $8.75.

Cardiol Therapeutics Trading Up 1.6 %

Shares of Cardiol Therapeutics stock traded up $0.03 during mid-day trading on Thursday, hitting $1.88. 153,207 shares of the stock were exchanged, compared to its average volume of 419,872. The stock has a market capitalization of $129.72 million, a price-to-earnings ratio of -5.29 and a beta of 0.89. Cardiol Therapeutics has a twelve month low of $0.72 and a twelve month high of $3.12. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of $2.01 and a 200 day simple moving average of $2.08.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.03. Research analysts forecast that Cardiol Therapeutics will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRDL. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Cardiol Therapeutics during the 3rd quarter valued at $27,000. Lion Street Advisors LLC boosted its position in shares of Cardiol Therapeutics by 7.9% in the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company's stock worth $544,000 after buying an additional 20,000 shares during the period. Baader Bank Aktiengesellschaft acquired a new stake in shares of Cardiol Therapeutics in the second quarter valued at about $59,000. Foundations Investment Advisors LLC acquired a new stake in shares of Cardiol Therapeutics in the second quarter valued at about $97,000. Finally, AdvisorShares Investments LLC lifted its position in Cardiol Therapeutics by 12.7% during the 2nd quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company's stock worth $2,934,000 after acquiring an additional 164,994 shares in the last quarter. 12.49% of the stock is owned by institutional investors and hedge funds.

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.