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

HC Wainwright restated their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a report issued on Wednesday morning,Benzinga reports. The firm currently has a $9.00 target price on the stock. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.38) EPS and FY2025 earnings at ($0.34) EPS.

Cardiol Therapeutics Stock Performance

Shares of Cardiol Therapeutics stock opened at $1.62 on Wednesday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $1.95 and its two-hundred day moving average is $2.08. Cardiol Therapeutics has a 52 week low of $0.79 and a 52 week high of $3.12. The company has a market capitalization of $132.19 million, a PE ratio of -4.04 and a beta of 0.91.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Townsquare Capital LLC bought a new position in Cardiol Therapeutics in the 3rd quarter worth about $27,000. Wealth Enhancement Advisory Services LLC bought a new position in Cardiol Therapeutics in the third quarter worth approximately $27,000. Jane Street Group LLC purchased a new position in Cardiol Therapeutics during the 3rd quarter worth $29,000. Baader Bank Aktiengesellschaft bought a new stake in Cardiol Therapeutics during the 2nd quarter valued at $59,000. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of Cardiol Therapeutics in the 2nd quarter worth $97,000. 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.