Cardiol Therapeutics (NASDAQ:CRDL) Receives Buy Rating from HC Wainwright

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $9.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 380.00% from the company’s current price.

CRDL has been the subject of several other reports. B. Riley Financial assumed coverage on shares of Cardiol Therapeutics in a research report on Wednesday, August 26th. They set a “buy” rating and a $11.00 price target for the company. Wall Street Zen upgraded shares of Cardiol Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Canaccord Genuity Group increased their target price on shares of Cardiol Therapeutics from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cardiol Therapeutics in a research note on Monday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cardiol Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Cardiol Therapeutics Price Performance

CRDL stock traded down $0.01 during mid-day trading on Wednesday, reaching $1.88. The company had a trading volume of 498,392 shares, compared to its average volume of 745,031. The company has a market capitalization of $217.84 million, a PE ratio of -7.60 and a beta of 0.79. The firm has a 50 day moving average of $1.69 and a 200 day moving average of $1.37. Cardiol Therapeutics has a 12 month low of $0.88 and a 12 month high of $2.34.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.05. Analysts anticipate that Cardiol Therapeutics will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Integrity Alliance LLC. purchased a new stake in Cardiol Therapeutics in the fourth quarter valued at approximately $416,000. Renaissance Technologies LLC acquired a new position in Cardiol Therapeutics in the 1st quarter valued at $310,000. AdvisorShares Investments LLC raised its position in Cardiol Therapeutics by 7.3% during the 4th quarter. AdvisorShares Investments LLC now owns 597,977 shares of the company’s stock worth $570,000 after buying an additional 40,589 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Cardiol Therapeutics in the 2nd quarter worth $27,000. Finally, PVG Asset Management Corp increased its position in Cardiol Therapeutics by 10.3% during the 1st quarter. PVG Asset Management Corp now owns 107,165 shares of the company’s stock worth $145,000 after purchasing an additional 10,000 shares during the period. 12.49% of the stock is owned by institutional investors and hedge funds.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc is a clinical-stage biotechnology company focused on developing anti-inflammatory therapies for diseases of the heart. The company’s research centers on the role of inflammation in cardiovascular conditions, including myocarditis and pericarditis, for which treatment options remain limited.

Cardiol’s lead investigational product is CardiolRx, an oral pharmaceutical formulation of cannabidiol designed for use in cardiovascular medicine. The product is being evaluated in clinical research involving acute myocarditis and recurrent pericarditis.