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

Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 1,870,000 shares, an increase of 26.4% from the February 13th total of 1,480,000 shares. Based on an average daily trading volume, of 299,700 shares, the short-interest ratio is currently 6.2 days. Approximately 2.4% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

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

Cardiol Therapeutics Stock Up 5.4 %

Shares of CRDL stock traded up $0.06 on Wednesday, hitting $1.18. 203,752 shares of the stock were exchanged, compared to its average volume of 389,045. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $97.48 million, a P/E ratio of -3.03 and a beta of 0.95. Cardiol Therapeutics has a fifty-two week low of $1.02 and a fifty-two week high of $3.12. The business has a 50-day moving average of $1.25 and a 200 day moving average of $1.58.

Remove Ads

Institutional Investors Weigh In On Cardiol Therapeutics

Institutional investors have recently bought and sold shares of the company. Townsquare Capital LLC acquired a new stake in shares of Cardiol Therapeutics in the third quarter valued at approximately $27,000. Jane Street Group LLC bought a new position in Cardiol Therapeutics in the third quarter valued at $29,000. Lion Street Advisors LLC increased its stake in Cardiol Therapeutics by 12.6% in the 4th quarter. Lion Street Advisors LLC now owns 307,666 shares of the company's stock valued at $396,000 after buying an additional 34,385 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in Cardiol Therapeutics in the 4th quarter valued at $25,000. Finally, Atria Investments Inc bought a new stake in Cardiol Therapeutics during the 4th quarter worth about $174,000. Institutional investors own 12.49% of the company's stock.

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.