Cardiol Therapeutics (NASDAQ:CRDL) Rating Increased to Hold at Wall Street Zen

Cardiol Therapeutics (NASDAQ:CRDL) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Other equities analysts have also recently issued research reports about the company. upgraded Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Cardiol Therapeutics in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.00.

Cardiol Therapeutics Price Performance

Shares of Cardiol Therapeutics stock opened at $1.41 on Friday. The company has a fifty day moving average price of $1.06 and a 200 day moving average price of $1.05. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a twelve month low of $0.77 and a twelve month high of $1.59. The stock has a market cap of $157.67 million, a price-to-earnings ratio of -5.04 and a beta of 0.82.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. Equities research analysts forecast that Cardiol Therapeutics will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardiol Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake 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. Sheets Smith Investment Management acquired a new position in shares of Cardiol Therapeutics during the third quarter valued at approximately $152,000. Two Sigma Investments LP bought a new stake in Cardiol Therapeutics during the third quarter worth approximately $249,000. Virtu Financial LLC acquired a new stake in Cardiol Therapeutics in the third quarter worth approximately $154,000. Finally, Citadel Advisors LLC boosted its stake in Cardiol Therapeutics by 1,132.6% during the 3rd quarter. Citadel Advisors LLC now owns 463,462 shares of the company’s stock valued at $496,000 after purchasing an additional 425,862 shares in the last quarter. 12.49% of the stock is owned by institutional investors and hedge funds.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc (NASDAQ: CRDL) is a clinical-stage pharmaceutical company dedicated to developing immunomodulatory treatments for patients with cardiovascular disease. The company’s lead asset, CardiolRx, is a proprietary, pharmaceutical-grade cannabidiol (CBD) formulation designed to target the inflammation and oxidative stress underlying conditions such as acute myocardial injury and heart failure. Cardiol holds exclusive global rights to CardiolRx through a licensing partnership and is advancing additional preclinical programs focused on small-molecule immunotherapies for heart disease.

CardiolRx is formulated for oral administration and has been evaluated in a randomized, placebo-controlled Phase 2 myocardial protection study assessing safety and key biomarkers following acute coronary syndromes.