Cardiol Therapeutics Inc. (NASDAQ:CRDL) Holdings Boosted by Lion Street Advisors LLC

Lion Street Advisors LLC raised its position in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 273,281 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Lion Street Advisors LLC’s holdings in Cardiol Therapeutics were worth $544,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Baader Bank Aktiengesellschaft acquired a new position in Cardiol Therapeutics during the second quarter valued at $59,000. Foundations Investment Advisors LLC acquired a new stake in Cardiol Therapeutics during the 2nd quarter worth about $97,000. Finally, AdvisorShares Investments LLC grew its stake in Cardiol Therapeutics by 12.7% during the 2nd 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.

Cardiol Therapeutics Trading Up 5.6 %

Shares of NASDAQ CRDL opened at $1.88 on Friday. The business has a 50 day simple moving average of $2.03 and a 200 day simple moving average of $2.08. Cardiol Therapeutics Inc. has a 52 week low of $0.66 and a 52 week high of $3.12. The stock has a market cap of $129.72 million, a price-to-earnings ratio of -5.37 and a beta of 0.89. 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 (NASDAQ:CRDL) last posted 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. On average, research analysts predict that Cardiol Therapeutics Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRDL has been the subject of a number of research analyst reports. Roth Capital raised shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Wednesday, June 26th. Roth Mkm started coverage on shares of Cardiol Therapeutics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $10.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Cardiol Therapeutics in a report on Friday, June 14th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $8.75.

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.