RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics (NASDAQ:CRDL - Free Report) to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.
A number of other equities analysts have also weighed in on CRDL. HC Wainwright reaffirmed a "buy" rating and set a $9.00 target price on shares of Cardiol Therapeutics in a research report on Wednesday, December 18th. Rodman & Renshaw began coverage on shares of Cardiol Therapeutics in a research note on Tuesday. They issued a "buy" rating and a $7.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $8.40.
Check Out Our Latest Analysis on Cardiol Therapeutics
Cardiol Therapeutics Price Performance
Shares of CRDL remained flat at $1.31 during trading hours on Tuesday. The stock had a trading volume of 124,245 shares, compared to its average volume of 259,008. The business's fifty 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 company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. The firm has a market cap of $108.22 million, a price-to-earnings ratio of -3.36 and a beta of 0.89.
Institutional Trading of Cardiol Therapeutics
Institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Cardiol Therapeutics during the 3rd quarter worth approximately $27,000. Townsquare Capital LLC bought a new stake in Cardiol Therapeutics during the third quarter worth $27,000. Jane Street Group LLC bought a new stake in Cardiol Therapeutics during the third quarter worth $29,000. Lion Street Advisors LLC boosted its position in 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 purchasing an additional 20,000 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its position in shares of Cardiol Therapeutics by 237.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company's stock valued at $321,000 after purchasing an additional 113,950 shares during the last quarter. 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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