Cardiol Therapeutics (TSE:CRDL) Shares Down 7.1% – Time to Sell?

Cardiol Therapeutics Inc. (TSE:CRDL) shares fell 7.1% during mid-day trading on Thursday . The stock traded as low as C$1.30 and last traded at C$1.31. 101,594 shares traded hands during trading, an increase of 34% from the average session volume of 75,629 shares. The stock had previously closed at C$1.41.

Cardiol Therapeutics Price Performance

The stock’s 50-day moving average price is C$1.39 and its 200 day moving average price is C$1.51. The firm has a market capitalization of C$145.96 million, a price-to-earnings ratio of -3.20 and a beta of 1.21. The company has a quick ratio of 6.84, a current ratio of 2.49 and a debt-to-equity ratio of 1.59.

Cardiol Therapeutics (TSE:CRDL) last posted its quarterly earnings results on Thursday, November 13th. The company reported C($0.12) earnings per share for the quarter. Equities research analysts expect that Cardiol Therapeutics Inc. will post -0.49 earnings per share for the current fiscal year.

About Cardiol Therapeutics

Cardiol Therapeutics Inc (NASDAQ: CRDL) (TSX: CRDL) is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. The Company’s lead drug candidate, CardiolRxTM (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with myocarditis, pericarditis, and heart failure.