HC Wainwright Issues Negative Outlook for CRDL Earnings

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Stock analysts at HC Wainwright cut their Q3 2024 EPS estimates for shares of Cardiol Therapeutics in a research note issued to investors on Thursday, October 24th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings per share of ($0.11) for the quarter, down from their prior forecast of ($0.09). HC Wainwright currently has a “Buy” rating and a $9.00 target price on the stock. The consensus estimate for Cardiol Therapeutics’ current full-year earnings is ($0.33) per share. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.44) EPS and FY2025 earnings at ($0.46) EPS.

Cardiol Therapeutics Trading Down 3.6 %

CRDL stock opened at $1.85 on Monday. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a twelve month low of $0.72 and a twelve month high of $3.12. The stock has a market capitalization of $127.65 million, a price-to-earnings ratio of -5.49 and a beta of 0.89. The firm’s fifty day simple moving average is $2.01 and its two-hundred day simple moving average is $2.08.

Cardiol Therapeutics (NASDAQ:CRDL) last released its earnings results on Monday, August 12th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRDL. Wealth Enhancement Advisory Services LLC acquired a new position in Cardiol Therapeutics in the 3rd quarter worth approximately $27,000. Baader Bank Aktiengesellschaft purchased a new position in Cardiol Therapeutics in the 2nd quarter valued at $59,000. Foundations Investment Advisors LLC purchased a new position in Cardiol Therapeutics in the 2nd quarter valued at $97,000. Lion Street Advisors LLC raised its holdings in shares of Cardiol Therapeutics by 31.4% during the 2nd quarter. Lion Street Advisors LLC now owns 253,281 shares of the company’s stock worth $505,000 after acquiring an additional 60,581 shares during the period. Finally, AdvisorShares Investments LLC raised its holdings in Cardiol Therapeutics by 12.7% in the 2nd 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 during the period. 12.49% of the stock is currently owned by institutional investors.

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.