Cardiol Therapeutics (TSE:CRDL) Stock Price Down 5% – Here’s Why

Cardiol Therapeutics Inc. (TSE:CRDL)’s share price traded down 5% during mid-day trading on Tuesday . The stock traded as low as C$1.51 and last traded at C$1.52. 86,322 shares changed hands during trading, an increase of 35% from the average session volume of 64,026 shares. The stock had previously closed at C$1.60.

Cardiol Therapeutics Trading Down 5.0 %

The company has a 50 day moving average of C$1.77 and a 200 day moving average of C$2.18. The firm has a market cap of C$126.13 million, a P/E ratio of -2.99 and a beta of 0.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 6.84 and a current ratio of 2.49.

Insiders Place Their Bets

In related news, Senior Officer Guillermo Torre bought 17,240 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of C$1.81 per share, for a total transaction of C$31,277.77. Insiders own 4.57% of the company’s stock.

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 candidate is 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.