Cardiol Therapeutics (NASDAQ:CRDL) Shares Up 6%

Cardiol Therapeutics Inc. (NASDAQ:CRDL) shares were up 6% during mid-day trading on Friday . The company traded as high as $1.78 and last traded at $1.77. Approximately 567,410 shares were traded during mid-day trading, an increase of 57% from the average daily volume of 360,502 shares. The stock had previously closed at $1.67.

Cardiol Therapeutics Price Performance

The stock has a market cap of $120.66 million, a price-to-earnings ratio of -5.36 and a beta of 0.95. The stock has a fifty day simple moving average of $1.65 and a 200-day simple moving average of $1.18. The company has a current ratio of 4.36, a quick ratio of 4.36 and a debt-to-equity ratio of 0.01.

Institutional Trading of Cardiol Therapeutics

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Cardiol Therapeutics by 66.2% during the 1st quarter. Royal Bank of Canada now owns 35,214 shares of the company’s stock worth $54,000 after purchasing an additional 14,020 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Cardiol Therapeutics during the 1st quarter worth approximately $29,000. Jane Street Group LLC acquired a new stake in shares of Cardiol Therapeutics during the 4th quarter worth approximately $32,000. Osaic Holdings Inc. grew its holdings in shares of Cardiol Therapeutics by 81.5% during the 2nd quarter. Osaic Holdings Inc. now owns 66,800 shares of the company’s stock worth $59,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Advisor Group Holdings Inc. grew its holdings in shares of Cardiol Therapeutics by 227.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 74,710 shares of the company’s stock worth $38,000 after purchasing an additional 51,870 shares in the last quarter. Institutional investors and hedge funds own 12.49% of the company’s stock.

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 cardiovascular disease (CVD). Its lead product CardiolRx, which is in Phase II/III multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx for patients hospitalized with COVID-19, as well as for the treatment of recurrent pericarditis and acute myocarditis.