Cardiol Therapeutics (NASDAQ:CRDL) Receives New Coverage from Analysts at HC Wainwright

Analysts at HC Wainwright assumed coverage on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report issued to clients and investors on Monday, MarketBeat reports. The firm set a “buy” rating and a $9.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 389.13% from the company’s previous close.

Cardiol Therapeutics Trading Up 4.5 %

NASDAQ:CRDL opened at $1.84 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.36 and a current ratio of 4.36. The firm has a market cap of $125.64 million, a price-to-earnings ratio of -5.58 and a beta of 0.95. Cardiol Therapeutics has a 52 week low of $0.55 and a 52 week high of $2.17. The firm has a 50-day moving average price of $1.68 and a two-hundred day moving average price of $1.20.

Institutional Investors Weigh In On Cardiol Therapeutics

A hedge fund recently raised its stake in Cardiol Therapeutics stock. Tejara Capital Ltd raised its position in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 29.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 645,457 shares of the company’s stock after buying an additional 148,396 shares during the period. Tejara Capital Ltd owned 1.00% of Cardiol Therapeutics worth $578,000 as of its most recent filing with the SEC. Institutional investors own 12.49% of the company’s stock.

About Cardiol Therapeutics

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 cardiovascular disease (CVD). Its lead product CardiolRx, which is in Phase II/III multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx for patients hospitalized with COVID-19, as well as for the treatment of recurrent pericarditis and acute myocarditis.