Cardiol Therapeutics’ (CRDL) Buy Rating Reiterated at HC Wainwright

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $9.00 price objective on the stock.

CRDL has been the topic of a number of other research reports. Rodman & Renshaw assumed coverage on shares of Cardiol Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price target on the stock. RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $8.40.

Cardiol Therapeutics Stock Performance

Shares of CRDL opened at $1.20 on Monday. Cardiol Therapeutics has a 12-month low of $1.15 and a 12-month high of $3.12. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01. The company has a market cap of $99.13 million, a PE ratio of -3.08 and a beta of 0.91. The stock has a 50-day moving average price of $1.31 and a 200-day moving average price of $1.68.

Institutional Investors Weigh In On Cardiol Therapeutics

Several hedge funds have recently made changes to their positions in the company. Tejara Capital Ltd lifted its position in Cardiol Therapeutics by 75.9% during the fourth quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company’s stock valued at $3,988,000 after buying an additional 1,344,167 shares during the period. PVG Asset Management Corp purchased a new position in Cardiol Therapeutics during the 4th quarter valued at about $624,000. Envestnet Asset Management Inc. purchased a new position in Cardiol Therapeutics during the 4th quarter valued at about $398,000. Lion Street Advisors LLC boosted its stake in Cardiol Therapeutics by 12.6% during the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after acquiring an additional 34,385 shares in the last quarter. Finally, Atria Investments Inc purchased a new stake in Cardiol Therapeutics in the fourth quarter worth about $174,000. 12.49% of the stock is currently owned by institutional investors.

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.