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

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have earned an average rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $8.40.

Several brokerages recently issued reports on CRDL. Rodman & Renshaw assumed coverage on Cardiol Therapeutics in a research report on Tuesday. They set a “buy” rating and a $7.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Cardiol Therapeutics in a research note on Wednesday, December 18th.

Cardiol Therapeutics Stock Performance

Shares of CRDL stock opened at $1.29 on Tuesday. Cardiol Therapeutics has a 12-month low of $0.96 and a 12-month high of $3.12. The business’s fifty day simple moving average is $1.39 and its 200-day simple moving average is $1.80. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01. The company has a market cap of $106.57 million, a PE ratio of -3.31 and a beta of 0.89.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Townsquare Capital LLC purchased a new stake in Cardiol Therapeutics in the third quarter valued at approximately $27,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Cardiol Therapeutics during the 3rd quarter valued at approximately $27,000. Jane Street Group LLC purchased a new stake in shares of Cardiol Therapeutics in the 3rd quarter valued at $29,000. Foundations Investment Advisors LLC increased its stake in shares of Cardiol Therapeutics by 237.4% in the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock worth $321,000 after acquiring an additional 113,950 shares during the period. Finally, Lion Street Advisors LLC raised its holdings in shares of Cardiol Therapeutics by 12.6% during the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after purchasing an additional 34,385 shares during the last quarter. 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.