Cardiol Therapeutics (NASDAQ:CRDL) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Cardiol Therapeutics (NASDAQ:CRDL) from a sell rating to a hold rating in a research report released on Saturday.

CRDL has been the subject of several other research reports. HC Wainwright reiterated a “buy” rating on shares of Cardiol Therapeutics in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cardiol Therapeutics in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.50.

Cardiol Therapeutics Trading Up 5.3%

Shares of Cardiol Therapeutics stock opened at $1.80 on Friday. The company has a fifty day simple moving average of $1.18 and a 200-day simple moving average of $1.18. The stock has a market cap of $208.60 million, a price-to-earnings ratio of -7.20 and a beta of 0.72. Cardiol Therapeutics has a 12-month low of $0.88 and a 12-month high of $1.82.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.05. On average, analysts forecast that Cardiol Therapeutics will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Cardiol Therapeutics

Large investors have recently modified their holdings of the business. Tejara Capital Ltd raised its position in shares of Cardiol Therapeutics by 95.1% during the 4th quarter. Tejara Capital Ltd now owns 5,130,122 shares of the company’s stock worth $4,893,000 after purchasing an additional 2,500,000 shares during the last quarter. Bank of America Corp DE lifted its stake in Cardiol Therapeutics by 1,983.0% in the 3rd quarter. Bank of America Corp DE now owns 551,053 shares of the company’s stock valued at $590,000 after buying an additional 524,598 shares in the last quarter. Integrity Alliance LLC. acquired a new stake in Cardiol Therapeutics during the 4th quarter valued at $416,000. Citadel Advisors LLC grew its holdings in Cardiol Therapeutics by 1,132.6% during the 3rd quarter. Citadel Advisors LLC now owns 463,462 shares of the company’s stock valued at $496,000 after buying an additional 425,862 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in Cardiol Therapeutics during the third quarter worth $249,000. 12.49% of the stock is currently owned by institutional investors and hedge funds.

Cardiol Therapeutics Company Profile

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.