Cardiol Therapeutics Inc. (NASDAQ:CRDL) Receives Average Rating of “Buy” from Brokerages

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have been given an average recommendation of “Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $8.40.

A number of equities research analysts have recently commented on CRDL shares. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Wednesday, December 18th. Rodman & Renshaw started coverage on shares of Cardiol Therapeutics in a research report on Tuesday. They set a “buy” rating and a $7.00 price target on the stock.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in Cardiol Therapeutics during the third quarter worth $27,000. Townsquare Capital LLC purchased a new stake in shares of Cardiol Therapeutics during the third quarter worth about $27,000. Jane Street Group LLC purchased a new stake in shares of Cardiol Therapeutics during the third quarter worth about $29,000. Foundations Investment Advisors LLC raised 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 purchasing an additional 113,950 shares during the last quarter. Finally, Lion Street Advisors LLC lifted 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. Institutional investors and hedge funds own 12.49% of the company’s stock.

Cardiol Therapeutics Stock Down 11.6 %

Cardiol Therapeutics stock opened at $1.29 on Tuesday. The business’s 50-day moving average price is $1.39 and its 200 day moving average price is $1.80. 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 $106.57 million, a price-to-earnings ratio of -3.31 and a beta of 0.89. Cardiol Therapeutics has a 52 week low of $0.96 and a 52 week high of $3.12.

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.