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

Cardiol Therapeutics Inc. (NASDAQ:CRDL) was the target of a significant decline in short interest during the month of 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. Currently, 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 359,300 shares, the days-to-cover ratio is currently 4.0 days.

Wall Street Analyst Weigh In

CRDL has been the subject of a number of analyst reports. Rodman & Renshaw initiated coverage on shares of Cardiol Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price objective for the company. RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Wednesday, December 18th. 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 MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $8.40.

Hedge Funds Weigh In On Cardiol Therapeutics

A number of hedge funds have recently made changes to their positions in CRDL. Jones Financial Companies Lllp acquired a new position in shares of Cardiol Therapeutics in the 4th quarter valued at $25,000. Townsquare Capital LLC acquired a new position in shares of Cardiol Therapeutics in the 3rd quarter valued at $27,000. Wealth Enhancement Advisory Services 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 position in shares of Cardiol Therapeutics in the 3rd quarter valued at $29,000. Finally, Cetera Investment Advisers acquired a new position in shares of Cardiol Therapeutics in the 4th quarter valued at $56,000. Institutional investors and hedge funds own 12.49% of the company’s stock.

Cardiol Therapeutics Price Performance

NASDAQ:CRDL opened at $1.18 on Wednesday. The stock has a market cap of $97.48 million, a P/E ratio of -3.03 and a beta of 0.91. Cardiol Therapeutics has a one year low of $1.15 and a one year high of $3.12. The company has a fifty day moving average price of $1.32 and a 200 day moving average price of $1.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49.

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.