Cardiol Therapeutics Inc. (NASDAQ:CRDL) Shares Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC grew its stake in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 237.4% during the third quarter, HoldingsChannel reports. The firm owned 161,950 shares of the company’s stock after purchasing an additional 113,950 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Cardiol Therapeutics were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Lion Street Advisors LLC grew its position in Cardiol Therapeutics by 7.9% in the 3rd quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock valued at $544,000 after buying an additional 20,000 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of Cardiol Therapeutics in the 2nd quarter worth $59,000. Finally, AdvisorShares Investments LLC boosted its holdings in shares of Cardiol Therapeutics by 12.7% in the second quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock valued at $2,934,000 after acquiring an additional 164,994 shares in the last quarter. Hedge funds and other institutional investors own 12.49% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a research report on Thursday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $8.75.

Cardiol Therapeutics Price Performance

Shares of NASDAQ CRDL opened at $1.92 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.39 and a current ratio of 2.39. Cardiol Therapeutics Inc. has a one year low of $0.72 and a one year high of $3.12. The firm has a market capitalization of $132.48 million, a P/E ratio of -5.49 and a beta of 0.89. The company’s fifty day moving average is $2.01 and its two-hundred day moving average is $2.08.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. Analysts forecast that Cardiol Therapeutics Inc. will post -0.33 EPS for the current fiscal year.

Cardiol Therapeutics 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.