Cardiol Therapeutics (NASDAQ:CRDL) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a report released on Wednesday,Benzinga reports. HC Wainwright currently has a $9.00 price target on the stock.

Cardiol Therapeutics Stock Performance

Shares of NASDAQ CRDL traded down $0.05 during trading hours on Wednesday, reaching $1.30. The stock had a trading volume of 247,391 shares, compared to its average volume of 417,393. Cardiol Therapeutics has a twelve month low of $0.79 and a twelve month high of $3.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49. The business’s fifty day moving average is $1.71 and its two-hundred day moving average is $1.98. The company has a market cap of $105.81 million, a price-to-earnings ratio of -3.32 and a beta of 0.83.

Institutional Trading of Cardiol Therapeutics

Several institutional investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in Cardiol Therapeutics in the third quarter worth about $29,000. Townsquare Capital LLC bought a new stake in shares of Cardiol Therapeutics in the 3rd quarter valued at approximately $27,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Cardiol Therapeutics in the 3rd quarter worth approximately $27,000. Foundations Investment Advisors LLC lifted 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 worth $321,000 after buying an additional 113,950 shares during the period. Finally, Lion Street Advisors LLC boosted its stake in Cardiol Therapeutics by 7.9% in the 3rd quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock valued at $544,000 after buying an additional 20,000 shares in the last quarter. 12.49% of the stock is currently owned by institutional investors and hedge funds.

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.