HC Wainwright Reaffirms Buy Rating for Cardiol Therapeutics (NASDAQ:CRDL)

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $9.00 price target on the stock.

Other analysts have also recently issued reports about the company. Brookline Capital Management raised Cardiol Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiol Therapeutics in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cardiol Therapeutics currently has an average rating of “Buy” and an average price target of $8.00.

Cardiol Therapeutics Stock Down 2.2%

NASDAQ:CRDL opened at $0.93 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.89 and a quick ratio of 3.89. The firm’s 50-day moving average price is $1.07 and its 200-day moving average price is $1.19. The company has a market capitalization of $92.47 million, a PE ratio of -3.10 and a beta of 1.03. Cardiol Therapeutics has a 1-year low of $0.77 and a 1-year high of $1.59.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). On average, equities analysts predict that Cardiol Therapeutics will post -0.33 EPS for the current fiscal year.

Institutional Trading of Cardiol Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in shares of Cardiol Therapeutics by 136.2% during the second quarter. Bank of America Corp DE now owns 26,455 shares of the company’s stock valued at $36,000 after purchasing an additional 15,255 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in Cardiol Therapeutics in the 2nd quarter worth about $39,000. Susquehanna International Group LLP raised its position in Cardiol Therapeutics by 366.5% in the 3rd quarter. Susquehanna International Group LLP now owns 93,398 shares of the company’s stock worth $100,000 after buying an additional 73,375 shares during the last quarter. Sheets Smith Investment Management bought a new position in Cardiol Therapeutics during the 3rd quarter valued at about $152,000. Finally, Virtu Financial LLC purchased a new stake in shares of Cardiol Therapeutics during the 3rd quarter valued at about $154,000. Institutional investors 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.