Cardiol Therapeutics Inc. (NASDAQ:CRDL) Short Interest Up 26.4% in February

Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,870,000 shares, a growth of 26.4% from the February 13th total of 1,480,000 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 299,700 shares, the days-to-cover ratio is presently 6.2 days.

Hedge Funds Weigh In On Cardiol Therapeutics

Several institutional investors have recently added to or reduced their stakes in CRDL. Jones Financial Companies Lllp purchased a new position in Cardiol Therapeutics during the 4th quarter valued at approximately $25,000. Townsquare Capital LLC purchased a new position in Cardiol Therapeutics during the 3rd quarter valued at approximately $27,000. Jane Street Group LLC purchased a new position in shares of Cardiol Therapeutics in the 3rd quarter worth approximately $29,000. Cetera Investment Advisers purchased a new position in shares of Cardiol Therapeutics in the 4th quarter worth approximately $56,000. Finally, Virtu Financial LLC purchased a new position in shares of Cardiol Therapeutics in the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors own 12.49% of the company's stock.

Cardiol Therapeutics Price Performance

NASDAQ CRDL traded down $0.05 during trading on Tuesday, hitting $1.12. 88,003 shares of the stock traded hands, compared to its average volume of 389,782. The company has a market capitalization of $92.52 million, a P/E ratio of -2.87 and a beta of 0.95. The firm has a 50-day simple moving average of $1.25 and a 200-day simple moving average of $1.58. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a 12-month low of $1.02 and a 12-month high of $3.12.

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Wall Street Analyst Weigh In

Several analysts recently issued reports on CRDL shares. HC Wainwright reissued a "buy" rating and set a $9.00 target price on shares of Cardiol Therapeutics in a research note on Monday, February 24th. Rodman & Renshaw started coverage on Cardiol Therapeutics in a research note on Tuesday, January 28th. They set a "buy" rating and a $7.00 target price on the stock. Finally, RODMAN&RENSHAW raised Cardiol Therapeutics to a "strong-buy" rating in a research note on Tuesday, January 28th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $8.40.

Cardiol Therapeutics Company Profile

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.