Cardiol Therapeutics’ (CRDL) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report released on Wednesday morning,Benzinga reports. They currently have a $9.00 price objective on the stock. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($0.37) EPS and FY2025 earnings at ($0.33) EPS.

Cardiol Therapeutics Trading Down 2.3 %

Shares of CRDL opened at $1.28 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. Cardiol Therapeutics has a 52-week low of $0.79 and a 52-week high of $3.12. The firm has a market cap of $104.58 million, a price-to-earnings ratio of -3.28 and a beta of 0.83. The business’s fifty day moving average is $1.69 and its 200-day moving average is $1.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Foundations Investment Advisors LLC bought a new stake in shares of Cardiol Therapeutics during the 2nd quarter valued at approximately $97,000. AdvisorShares Investments LLC boosted its position in Cardiol Therapeutics by 12.7% in the second quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock valued at $2,934,000 after buying an additional 164,994 shares in the last quarter. Lion Street Advisors LLC grew its stake in shares of Cardiol Therapeutics by 7.9% during the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock worth $544,000 after buying an additional 20,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Cardiol Therapeutics during the third quarter worth $27,000. Finally, Townsquare Capital LLC bought a new position in shares of Cardiol Therapeutics in the 3rd quarter valued at $27,000. Institutional investors own 12.49% of the company’s stock.

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.