Cardiol Therapeutics’ (CRDL) “Buy” Rating Reaffirmed at HC Wainwright

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $9.00 target price on the stock.

Cardiol Therapeutics Trading Up 3.0 %

NASDAQ CRDL opened at $1.37 on Wednesday. The company has a market capitalization of $111.93 million, a price-to-earnings ratio of -3.51 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 12 month low of $0.79 and a 12 month high of $3.12. The company’s fifty day moving average price is $1.72 and its two-hundred day moving average price is $1.98.

Institutional Investors Weigh In On Cardiol Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Cardiol Therapeutics in the 3rd quarter worth about $27,000. Townsquare Capital LLC acquired a new position in Cardiol Therapeutics in the third quarter valued at approximately $27,000. Jane Street Group LLC acquired a new position in Cardiol Therapeutics in the third quarter valued at approximately $29,000. Foundations Investment Advisors LLC bought a new position in shares of Cardiol Therapeutics during the second quarter valued at approximately $97,000. Finally, Lion Street Advisors LLC boosted its position in Cardiol Therapeutics by 7.9% during 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. 12.49% of the stock is owned by institutional investors and hedge funds.

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.