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

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $9.00 price objective on the stock. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($0.37) EPS and FY2025 earnings at ($0.33) EPS.

Cardiol Therapeutics Price Performance

Cardiol Therapeutics stock opened at $1.31 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. The company’s fifty day moving average price is $1.70 and its 200 day moving average price is $1.97. The stock has a market capitalization of $107.03 million, a P/E ratio of -3.36 and a beta of 0.83. Cardiol Therapeutics has a 1 year low of $0.79 and a 1 year high of $3.12.

Institutional Trading of Cardiol Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Townsquare Capital LLC purchased a new position in Cardiol Therapeutics in the 3rd quarter valued at about $27,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Cardiol Therapeutics during the third quarter valued at approximately $27,000. Jane Street Group LLC purchased a new position in shares of Cardiol Therapeutics in the third quarter valued at approximately $29,000. Foundations Investment Advisors LLC purchased a new position in shares of Cardiol Therapeutics in the second quarter valued at approximately $97,000. Finally, Lion Street Advisors LLC boosted its stake in shares of Cardiol Therapeutics by 7.9% in the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock worth $544,000 after acquiring an additional 20,000 shares during the last quarter. Hedge funds and other 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.