Cardiol Therapeutics (NASDAQ:CRDL) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $9.00 target price on the stock. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.38) EPS and FY2025 earnings at ($0.34) EPS.

Cardiol Therapeutics Stock Up 2.5 %

Cardiol Therapeutics stock opened at $1.62 on Wednesday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. The firm has a market cap of $132.19 million, a P/E ratio of -4.04 and a beta of 0.91. The business has a fifty day moving average of $1.95 and a two-hundred day moving average of $2.08. Cardiol Therapeutics has a twelve month low of $0.79 and a twelve month high of $3.12.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of institutional investors have recently added to or reduced their stakes in CRDL. AdvisorShares Investments LLC lifted its position in shares of Cardiol Therapeutics by 12.7% during the second quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock valued at $2,934,000 after buying an additional 164,994 shares during the last quarter. Lion Street Advisors LLC lifted its position in Cardiol Therapeutics by 7.9% during the third 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 last quarter. Foundations Investment Advisors LLC boosted its stake in Cardiol Therapeutics by 237.4% in the third 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 in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in Cardiol Therapeutics in the second quarter worth $59,000. Finally, Jane Street Group LLC acquired a new position in shares of Cardiol Therapeutics during the third quarter worth $29,000. Institutional investors own 12.49% of the company’s stock.

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.