Cardiol Therapeutics Inc. (NASDAQ:CRDL) Receives $8.40 Consensus PT from Brokerages

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $8.40.

Several equities analysts have recently commented on CRDL shares. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a report on Wednesday, December 18th. Finally, Rodman & Renshaw initiated coverage on Cardiol Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $7.00 price target on the stock.

Cardiol Therapeutics Trading Down 0.7 %

CRDL opened at $1.41 on Tuesday. Cardiol Therapeutics has a 12-month low of $0.96 and a 12-month high of $3.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49. The stock has a market capitalization of $116.48 million, a PE ratio of -3.62 and a beta of 0.89. The firm’s fifty day moving average price is $1.36 and its 200 day moving average price is $1.77.

Institutional Trading of Cardiol Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lion Street Advisors LLC grew its stake in Cardiol Therapeutics by 12.6% during the 4th quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after buying an additional 34,385 shares during the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Cardiol Therapeutics by 237.4% during the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock valued at $321,000 after acquiring an additional 113,950 shares during the period. Jane Street Group LLC bought a new position in shares of Cardiol Therapeutics during the third quarter worth about $29,000. Townsquare Capital LLC acquired a new stake in shares of Cardiol Therapeutics in the 3rd quarter worth about $27,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Cardiol Therapeutics in the 3rd quarter valued at about $27,000. 12.49% of the stock is currently owned by institutional investors and hedge funds.

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.