Cardiol Therapeutics (NASDAQ:CRDL) Raised to “Strong-Buy” at RODMAN&RENSHAW

RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics (NASDAQ:CRDL) to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

Several other analysts have also recently weighed in on CRDL. Rodman & Renshaw began coverage on shares of Cardiol Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $7.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a research note on Wednesday, December 18th. Five investment 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, the company presently has an average rating of “Buy” and a consensus target price of $8.40.

Cardiol Therapeutics Stock Up 1.6 %

NASDAQ:CRDL opened at $1.31 on Tuesday. Cardiol Therapeutics has a one year low of $0.96 and a one year 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 company has a market cap of $108.22 million, a PE ratio of -3.36 and a beta of 0.89. The firm’s 50 day simple moving average is $1.38 and its 200 day simple moving average is $1.79.

Institutional Inflows and Outflows

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