Cardiol Therapeutics Inc. (NASDAQ:CRDL) Short Interest Update

Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 1,430,000 shares, a decline of 8.3% from the January 15th total of 1,560,000 shares. Based on an average daily trading volume, of 359,300 shares, the short-interest ratio is currently 4.0 days. Currently, 1.8% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of analysts have issued reports on the company. RODMAN&RENSHAW raised Cardiol Therapeutics to a "strong-buy" rating in a research note on Tuesday, January 28th. Rodman & Renshaw started coverage on shares of Cardiol Therapeutics in a research note on Tuesday, January 28th. They set a "buy" rating and a $7.00 price target on the stock. Finally, HC Wainwright reissued a "buy" rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Wednesday, December 18th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $8.40.

Institutional Trading of Cardiol Therapeutics

Hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Cardiol Therapeutics during the 3rd quarter worth about $27,000. Townsquare Capital LLC acquired a new position in shares of Cardiol Therapeutics in the 3rd quarter valued at $27,000. Jane Street Group LLC acquired a new stake in Cardiol Therapeutics in the 3rd quarter valued at $29,000. Jones Financial Companies Lllp purchased a new position in Cardiol Therapeutics in the fourth quarter valued at about $25,000. Finally, Lion Street Advisors LLC raised its holdings in shares of Cardiol Therapeutics by 12.6% during the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company's stock worth $396,000 after purchasing an additional 34,385 shares during the period. Hedge funds and other institutional investors own 12.49% of the company's stock.

Cardiol Therapeutics Price Performance

Shares of CRDL traded down $0.10 during trading hours on Friday, hitting $1.20. 216,987 shares of the stock were exchanged, compared to its average volume of 264,302. The stock's 50-day moving average price is $1.31 and its two-hundred day moving average price is $1.69. 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 cap of $99.13 million, a price-to-earnings ratio of -3.08 and a beta of 0.91. Cardiol Therapeutics has a 12-month low of $1.15 and a 12-month high of $3.12.

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.