HC Wainwright Reaffirms Buy Rating for Cardiol Therapeutics (NASDAQ:CRDL)

HC Wainwright restated their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $9.00 target price on the stock. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.38) EPS and FY2025 earnings at ($0.34) EPS.

Cardiol Therapeutics Stock Performance

Shares of CRDL opened at $1.62 on Wednesday. The stock has a 50 day moving average of $1.94 and a 200 day moving average of $2.08. The company has a market capitalization of $132.19 million, a price-to-earnings ratio of -4.15 and a beta of 0.91. Cardiol Therapeutics has a 12 month low of $0.79 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.

Institutional Trading of Cardiol Therapeutics

A number of large investors have recently added to or reduced their stakes in CRDL. Townsquare Capital LLC bought a new position in shares of Cardiol Therapeutics during the 3rd quarter valued at approximately $27,000. Wealth Enhancement Advisory Services LLC bought a new position in Cardiol Therapeutics during the third quarter valued at $27,000. Jane Street Group LLC bought a new position in Cardiol Therapeutics during the third quarter valued at $29,000. Baader Bank Aktiengesellschaft purchased a new stake in Cardiol Therapeutics in the second quarter worth $59,000. Finally, Foundations Investment Advisors LLC bought a new stake in shares of Cardiol Therapeutics in the second quarter valued at $97,000. Hedge funds and other institutional investors own 12.49% of the company’s stock.

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.