Cardiol Therapeutics (TSE:CRDL) Trading Down 7.7% – Here’s Why

Cardiol Therapeutics Inc. (TSE:CRDL)’s stock price dropped 7.7% during mid-day trading on Friday . The company traded as low as C$1.88 and last traded at C$1.91. Approximately 75,056 shares were traded during mid-day trading, an increase of 45% from the average daily volume of 51,603 shares. The stock had previously closed at C$2.07.

Cardiol Therapeutics Price Performance

The stock’s fifty day moving average is C$1.93 and its 200-day moving average is C$2.44. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.39 and a quick ratio of 6.84. The stock has a market capitalization of C$133.47 million, a P/E ratio of -4.34 and a beta of 0.70.

Insider Transactions at Cardiol Therapeutics

In other Cardiol Therapeutics news, Senior Officer Andrew Warwick Hamer acquired 18,900 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average price of C$1.88 per share, with a total value of C$35,606.69. Also, Senior Officer Guillermo Torre bought 17,240 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average price of C$1.81 per share, with a total value of C$31,277.77. In the last quarter, insiders purchased 86,140 shares of company stock worth $161,456. 4.57% of the stock is owned by corporate insiders.

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 candidate is 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.