HC Wainwright Issues Negative Outlook for CRDL Earnings

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Investment analysts at HC Wainwright cut their Q3 2024 earnings per share estimates for Cardiol Therapeutics in a research report issued on Thursday, October 24th. HC Wainwright analyst V. Bernardino now expects that the company will post earnings of ($0.11) per share for the quarter, down from their previous estimate of ($0.09). HC Wainwright has a “Buy” rating and a $9.00 price objective on the stock. The consensus estimate for Cardiol Therapeutics’ current full-year earnings is ($0.33) per share. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.44) EPS and FY2025 earnings at ($0.46) EPS.

Cardiol Therapeutics Stock Up 2.1 %

Shares of NASDAQ CRDL opened at $1.92 on Monday. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.01. The company has a market cap of $132.48 million, a price-to-earnings ratio of -5.49 and a beta of 0.89. Cardiol Therapeutics has a 12 month low of $0.72 and a 12 month high of $3.12. The stock has a 50-day moving average price of $2.01 and a two-hundred day moving average price of $2.08.

Cardiol Therapeutics (NASDAQ:CRDL) last issued its earnings results on Monday, August 12th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Cardiol Therapeutics in the third quarter valued at approximately $27,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Cardiol Therapeutics in the second quarter valued at approximately $59,000. Foundations Investment Advisors LLC acquired a new position in shares of Cardiol Therapeutics in the second quarter valued at approximately $97,000. Lion Street Advisors LLC increased its stake in shares of Cardiol Therapeutics by 31.4% in the second quarter. Lion Street Advisors LLC now owns 253,281 shares of the company’s stock valued at $505,000 after buying an additional 60,581 shares during the period. Finally, AdvisorShares Investments LLC increased its stake 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 buying an additional 164,994 shares during the period. Institutional investors and hedge funds 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.