Cardiol Therapeutics Inc. (NASDAQ:CRDL) Short Interest Update

Cardiol Therapeutics Inc. (NASDAQ:CRDL) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 893,300 shares, an increase of 9.6% from the October 31st total of 814,800 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average daily volume of 479,500 shares, the short-interest ratio is currently 1.9 days.

Cardiol Therapeutics Price Performance

Shares of CRDL traded down $0.02 on Wednesday, hitting $1.51. The company’s stock had a trading volume of 130,557 shares, compared to its average volume of 416,919. The company has a market capitalization of $123.22 million, a PE ratio of -3.92 and a beta of 0.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49. Cardiol Therapeutics has a fifty-two week low of $0.79 and a fifty-two week high of $3.12. The company has a 50 day moving average price of $1.84 and a 200 day moving average price of $2.05.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $8.75.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Cardiol Therapeutics in the 3rd quarter valued at $27,000. Foundations Investment Advisors LLC lifted its stake in shares of Cardiol Therapeutics by 237.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock valued at $321,000 after purchasing an additional 113,950 shares during the period. AdvisorShares Investments LLC lifted its stake in shares of Cardiol Therapeutics by 12.7% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock valued at $2,934,000 after purchasing an additional 164,994 shares during the period. Lion Street Advisors LLC lifted its stake in shares of Cardiol Therapeutics by 7.9% in the 3rd quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock valued at $544,000 after purchasing an additional 20,000 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Cardiol Therapeutics in the 2nd quarter valued at $59,000. Institutional investors and hedge funds own 12.49% of the company’s stock.

Cardiol Therapeutics Company Profile

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.