Tejara Capital Ltd Boosts Holdings in Cardiol Therapeutics Inc. (NASDAQ:CRDL)

Tejara Capital Ltd boosted its position in Cardiol Therapeutics Inc. (NASDAQ:CRDL - Free Report) by 75.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,115,437 shares of the company's stock after purchasing an additional 1,344,167 shares during the period. Cardiol Therapeutics comprises 2.6% of Tejara Capital Ltd's investment portfolio, making the stock its 14th biggest position. Tejara Capital Ltd owned approximately 3.77% of Cardiol Therapeutics worth $3,988,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CRDL. Townsquare Capital LLC bought a new stake in Cardiol Therapeutics in the 3rd quarter worth about $27,000. Jane Street Group LLC bought a new stake in Cardiol Therapeutics in the 3rd quarter worth about $29,000. Lion Street Advisors LLC grew its position in Cardiol Therapeutics by 12.6% in the 4th 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 in the last quarter. Jones Financial Companies Lllp bought a new stake in Cardiol Therapeutics in the 4th quarter worth about $25,000. Finally, Atria Investments Inc bought a new position in shares of Cardiol Therapeutics during the 4th quarter valued at approximately $174,000. 12.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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Cardiol Therapeutics Stock Performance

CRDL traded down $0.07 on Friday, hitting $1.12. The company's stock had a trading volume of 72,789 shares, compared to its average volume of 389,802. The company's 50 day simple moving average is $1.24 and its 200-day simple moving average is $1.57. The firm has a market cap of $92.52 million, a P/E ratio of -2.87 and a beta of 0.95. Cardiol Therapeutics Inc. has a 12 month low of $1.02 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.

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.