HC Wainwright Initiates Coverage on Cardiol Therapeutics (NASDAQ:CRDL)

HC Wainwright assumed coverage on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research note published on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $9.00 price target on the stock.

Cardiol Therapeutics Price Performance

NASDAQ:CRDL opened at $1.76 on Monday. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $1.67 and its 200 day moving average price is $1.19. Cardiol Therapeutics has a 52-week low of $0.55 and a 52-week high of $2.17. The firm has a market cap of $120.18 million, a P/E ratio of -5.33 and a beta of 0.95.

Institutional Trading of Cardiol Therapeutics

A hedge fund recently raised its stake in Cardiol Therapeutics stock. Laird Norton Trust Company LLC boosted its holdings in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 63.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 100,000 shares of the company’s stock after buying an additional 38,673 shares during the quarter. Laird Norton Trust Company LLC owned 0.15% of Cardiol Therapeutics worth $90,000 as of its most recent SEC filing. 12.49% of the stock is currently owned by institutional investors and hedge funds.

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.