Cardiol Therapeutics Inc. (NASDAQ:CRDL) Given Average Recommendation of “Buy” by Analysts

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has been assigned a consensus recommendation of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $8.00.

A number of brokerages have recently commented on CRDL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiol Therapeutics in a report on Wednesday, October 8th. Brookline Capital Management upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 17th.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of institutional investors have recently bought and sold shares of CRDL. Tejara Capital Ltd grew its stake in shares of Cardiol Therapeutics by 2.2% in the 2nd quarter. Tejara Capital Ltd now owns 3,265,819 shares of the company’s stock valued at $4,442,000 after purchasing an additional 70,829 shares during the period. Bank of America Corp DE raised its position in Cardiol Therapeutics by 1,983.0% in the 3rd quarter. Bank of America Corp DE now owns 551,053 shares of the company’s stock valued at $590,000 after purchasing an additional 524,598 shares during the last quarter. Citadel Advisors LLC raised its position in Cardiol Therapeutics by 1,132.6% in 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 during the last quarter. Two Sigma Investments LP acquired a new position in Cardiol Therapeutics in the third quarter worth $249,000. Finally, Virtu Financial LLC acquired a new stake in shares of Cardiol Therapeutics in the third quarter valued at $154,000. Institutional investors and hedge funds own 12.49% of the company’s stock.

Cardiol Therapeutics Stock Performance

Shares of Cardiol Therapeutics stock traded up $0.01 on Friday, reaching $0.97. The stock had a trading volume of 274,036 shares, compared to its average volume of 425,885. The stock has a market cap of $96.80 million, a P/E ratio of -3.24 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 3.89. Cardiol Therapeutics has a fifty-two week low of $0.77 and a fifty-two week high of $1.67. The business’s 50-day moving average price is $1.08 and its two-hundred day moving average price is $1.19.

Cardiol Therapeutics (NASDAQ:CRDL) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). On average, sell-side analysts forecast that Cardiol Therapeutics will post -0.33 EPS for the current year.

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.