Cardiol Therapeutics’ (CRDL) Buy Rating Reaffirmed at HC Wainwright

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They currently have a $9.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 471.43% from the company’s current price.

Cardiol Therapeutics Stock Performance

Cardiol Therapeutics stock opened at $1.58 on Wednesday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $128.52 million, a P/E ratio of -4.00 and a beta of 0.91. The stock’s 50 day moving average is $1.97 and its 200 day moving average is $2.08. Cardiol Therapeutics has a twelve month low of $0.79 and a twelve month high of $3.12.

Institutional Trading of Cardiol Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. AdvisorShares Investments LLC lifted its holdings in shares of Cardiol Therapeutics by 12.7% during 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. Lion Street Advisors LLC grew its position in shares of Cardiol Therapeutics by 7.9% during the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock valued at $544,000 after purchasing an additional 20,000 shares in the last quarter. Foundations Investment Advisors LLC grew its position in Cardiol Therapeutics by 237.4% in the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock worth $321,000 after acquiring an additional 113,950 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in Cardiol Therapeutics in the second quarter worth about $59,000. Finally, Jane Street Group LLC bought a new stake in Cardiol Therapeutics in the third quarter worth about $29,000. 12.49% of the stock is currently owned by hedge funds and other 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.