Cardiol Therapeutics (NASDAQ:CRDL) Upgraded at RODMAN&RENSHAW

RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics (NASDAQ:CRDL) to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Other research analysts have also issued research reports about the stock. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Wednesday, December 18th. Rodman & Renshaw began coverage on Cardiol Therapeutics in a report on Tuesday. They set a “buy” rating and a $7.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $8.40.

Cardiol Therapeutics Price Performance

CRDL opened at $1.42 on Tuesday. The company has a fifty day moving average price of $1.37 and a two-hundred day moving average price of $1.78. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. The firm has a market capitalization of $117.31 million, a PE ratio of -3.64 and a beta of 0.89. Cardiol Therapeutics has a 52 week low of $0.96 and a 52 week high of $3.12.

Institutional Investors Weigh In On Cardiol Therapeutics

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

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.