Cardiol Therapeutics Inc. (NASDAQ:CRDL) Given Average Recommendation of “Buy” by Brokerages

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have been assigned an average recommendation of “Buy” from the five ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $8.00.

CRDL has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cardiol Therapeutics in a research report on Wednesday, October 8th. Brookline Capital Management raised shares of Cardiol Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a research report on Monday, December 1st.

Cardiol Therapeutics Trading Up 1.0%

Shares of NASDAQ CRDL opened at $1.04 on Wednesday. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a 12 month low of $0.77 and a 12 month high of $1.59. The company has a market cap of $103.47 million, a price-to-earnings ratio of -3.47 and a beta of 1.03. The business has a fifty day simple moving average of $1.06 and a 200-day simple moving average of $1.18.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). Sell-side analysts predict that Cardiol Therapeutics will post -0.33 EPS for the current year.

Institutional Trading of Cardiol Therapeutics

Institutional investors have recently made changes to their positions in the stock. Tejara Capital Ltd increased its stake in Cardiol Therapeutics by 2.2% in the 2nd quarter. Tejara Capital Ltd now owns 3,265,819 shares of the company’s stock valued at $4,442,000 after buying an additional 70,829 shares during the period. Thompson Davis & CO. Inc. acquired a new stake in shares of Cardiol Therapeutics during the 2nd quarter valued at $39,000. Bank of America Corp DE grew its holdings in shares of Cardiol Therapeutics by 1,983.0% during the 3rd quarter. Bank of America Corp DE now owns 551,053 shares of the company’s stock valued at $590,000 after acquiring an additional 524,598 shares in the last quarter. Citadel Advisors LLC increased its stake in shares of Cardiol Therapeutics by 1,132.6% in the third quarter. Citadel Advisors LLC now owns 463,462 shares of the company’s stock worth $496,000 after acquiring an additional 425,862 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Cardiol Therapeutics during the third quarter worth $249,000. 12.49% of the stock is currently owned by institutional investors and hedge funds.

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 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.