Cardiol Therapeutics (NASDAQ:CRDL) Given Buy Rating at HC Wainwright

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $9.00 price objective on the stock.

Several other brokerages have also recently issued reports on CRDL. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, January 28th. Rodman & Renshaw began coverage on shares of Cardiol Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $8.40.

Cardiol Therapeutics Price Performance

CRDL opened at $1.20 on Monday. The firm has a market cap of $99.13 million, a PE ratio of -3.08 and a beta of 0.91. The stock has a 50-day moving average price of $1.31 and a 200-day moving average price of $1.68. Cardiol Therapeutics has a 1 year low of $1.15 and a 1 year 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.

Institutional Trading of Cardiol Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Tejara Capital Ltd lifted its position in Cardiol Therapeutics by 75.9% during the fourth quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company’s stock valued at $3,988,000 after purchasing an additional 1,344,167 shares during the period. PVG Asset Management Corp purchased a new stake in Cardiol Therapeutics during the 4th quarter valued at $624,000. Envestnet Asset Management Inc. bought a new position in shares of Cardiol Therapeutics during the 4th quarter valued at $398,000. Atria Investments Inc purchased a new position in shares of Cardiol Therapeutics in the 4th quarter worth $174,000. Finally, Virtu Financial LLC bought a new stake in shares of Cardiol Therapeutics in the fourth quarter worth $61,000. Hedge funds and other institutional investors 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.