Tejara Capital Ltd Sells 635,697 Shares of Cardiol Therapeutics Inc. $CRDL

Tejara Capital Ltd reduced its position in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 19.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,630,122 shares of the company’s stock after selling 635,697 shares during the period. Cardiol Therapeutics comprises 1.5% of Tejara Capital Ltd’s holdings, making the stock its 24th largest position. Tejara Capital Ltd owned about 2.66% of Cardiol Therapeutics worth $2,814,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of Cardiol Therapeutics by 136.2% during the 2nd quarter. Bank of America Corp DE now owns 26,455 shares of the company’s stock worth $36,000 after acquiring an additional 15,255 shares during the period. Thompson Davis & CO. Inc. acquired a new stake in Cardiol Therapeutics during the 2nd quarter valued at $39,000. Finally, Sheets Smith Investment Management bought a new position in Cardiol Therapeutics during the third quarter worth $152,000. 12.49% of the stock is owned by institutional investors and hedge funds.

Cardiol Therapeutics Price Performance

Shares of Cardiol Therapeutics stock opened at $0.95 on Friday. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $106.17 million, a price-to-earnings ratio of -3.17 and a beta of 1.04. Cardiol Therapeutics Inc. has a twelve month low of $0.77 and a twelve month high of $1.59. The company has a 50-day simple moving average of $1.01 and a two-hundred day simple moving average of $1.09.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its earnings results on Thursday, November 13th. The company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). Analysts forecast that Cardiol Therapeutics Inc. will post -0.33 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiol Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.00.

About Cardiol Therapeutics

Cardiol Therapeutics Inc (NASDAQ: CRDL) is a clinical-stage pharmaceutical company dedicated to developing immunomodulatory treatments for patients with cardiovascular disease. The company’s lead asset, CardiolRx, is a proprietary, pharmaceutical-grade cannabidiol (CBD) formulation designed to target the inflammation and oxidative stress underlying conditions such as acute myocardial injury and heart failure. Cardiol holds exclusive global rights to CardiolRx through a licensing partnership and is advancing additional preclinical programs focused on small-molecule immunotherapies for heart disease.

CardiolRx is formulated for oral administration and has been evaluated in a randomized, placebo-controlled Phase 2 myocardial protection study assessing safety and key biomarkers following acute coronary syndromes.