Cetera Investment Advisers Takes $56,000 Position in Cardiol Therapeutics Inc. (NASDAQ:CRDL)

Cetera Investment Advisers acquired a new stake in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 43,547 shares of the company’s stock, valued at approximately $56,000. Cetera Investment Advisers owned 0.05% of Cardiol Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new position in Cardiol Therapeutics in the 4th quarter worth $25,000. Virtu Financial LLC bought a new position in Cardiol Therapeutics in the 4th quarter worth $61,000. Atria Investments Inc bought a new position in Cardiol Therapeutics in the 4th quarter worth $174,000. Lion Street Advisors LLC boosted its holdings in Cardiol Therapeutics by 12.6% in the 4th quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after buying an additional 34,385 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in Cardiol Therapeutics in the 4th quarter worth $398,000. Institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Trading Down 0.8%

NASDAQ CRDL opened at $1.24 on Tuesday. The company has a fifty day simple moving average of $1.05 and a two-hundred day simple moving average of $1.22. The stock has a market cap of $102.44 million, a P/E ratio of -3.18 and a beta of 0.98. Cardiol Therapeutics Inc. has a 12-month low of $0.77 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.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its earnings results on Monday, March 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. On average, analysts forecast that Cardiol Therapeutics Inc. will post -0.33 earnings per share for the current year.

Analyst Ratings Changes

Separately, HC Wainwright started coverage on shares of Cardiol Therapeutics in a research note on Monday. They issued a “buy” rating and a $9.00 price target on the stock. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $8.67.

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.