Lion Street Advisors LLC Acquires 34,385 Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL)

Lion Street Advisors LLC raised its holdings in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 12.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 307,666 shares of the company’s stock after acquiring an additional 34,385 shares during the period. Lion Street Advisors LLC owned approximately 0.37% of Cardiol Therapeutics worth $396,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in Cardiol Therapeutics in the third quarter valued at about $27,000. Townsquare Capital LLC bought a new stake 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 approximately $29,000. Finally, Foundations Investment Advisors LLC boosted its stake in Cardiol Therapeutics by 237.4% in 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 period. Institutional investors and hedge funds own 12.49% of the company’s stock.

Cardiol Therapeutics Price Performance

Cardiol Therapeutics stock opened at $1.44 on Thursday. The stock has a 50-day moving average price of $1.36 and a two-hundred day moving average price of $1.76. Cardiol Therapeutics Inc. has a 12 month low of $0.96 and a 12 month high of $3.12. The company has a market capitalization of $118.96 million, a PE ratio of -3.69 and a beta of 0.91. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CRDL shares. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a research report on Wednesday, December 18th. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Rodman & Renshaw assumed coverage on Cardiol Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price target for the company. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $8.40.

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.