Analysts Set Cardiol Therapeutics Inc. (NASDAQ:CRDL) PT at $8.40

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have received an average rating of “Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.40.

A number of research firms have commented on CRDL. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a report on Monday, February 24th. Rodman & Renshaw began coverage on Cardiol Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $7.00 target price for the company. Finally, RODMAN&RENSHAW raised Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, January 28th.

Cardiol Therapeutics Stock Down 5.9 %

Cardiol Therapeutics stock opened at $1.12 on Wednesday. The firm has a market cap of $92.52 million, a price-to-earnings ratio of -2.87 and a beta of 0.95. The stock has a fifty day simple moving average of $1.24 and a two-hundred day simple moving average of $1.57. Cardiol Therapeutics has a 12 month low of $1.02 and a 12 month high of $3.12. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Cardiol Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CRDL. Townsquare Capital LLC purchased a new position in Cardiol Therapeutics during the third quarter valued at $27,000. Jane Street Group LLC purchased a new position in Cardiol Therapeutics during the third quarter valued at $29,000. Lion Street Advisors LLC lifted its position in Cardiol Therapeutics by 12.6% during the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock valued at $396,000 after purchasing an additional 34,385 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in Cardiol Therapeutics during the fourth quarter valued at $25,000. Finally, Atria Investments Inc purchased a new position in Cardiol Therapeutics during the fourth quarter valued at $174,000. 12.49% of the stock is currently owned by hedge funds and other institutional investors.

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.