Cardiol Therapeutics (NASDAQ:CRDL) Raised to Hold at Wall Street Zen

Cardiol Therapeutics (NASDAQ:CRDL) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Several other equities analysts have also commented on CRDL. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a research note on Tuesday, February 10th. upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Cardiol Therapeutics has an average rating of “Hold” and an average target price of $9.00.

Cardiol Therapeutics Stock Performance

Cardiol Therapeutics stock opened at $1.41 on Friday. The firm’s 50 day moving average price is $1.06 and its 200-day moving average price is $1.05. The stock has a market cap of $157.67 million, a P/E ratio of -5.04 and a beta of 0.82. Cardiol Therapeutics has a 1 year low of $0.77 and a 1 year high of $1.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.89 and a quick ratio of 3.89.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. On average, equities analysts predict that Cardiol Therapeutics will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CRDL. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Cardiol Therapeutics in the fourth quarter valued at approximately $31,000. Simplex Trading LLC raised its holdings in shares of Cardiol Therapeutics by 96.9% in the 4th quarter. Simplex Trading LLC now owns 32,197 shares of the company’s stock worth $31,000 after purchasing an additional 15,842 shares during the period. AdvisorShares Investments LLC lifted its stake in shares of Cardiol Therapeutics by 7.3% in the 4th quarter. AdvisorShares Investments LLC now owns 597,977 shares of the company’s stock valued at $570,000 after purchasing an additional 40,589 shares in the last quarter. Integrity Alliance LLC. purchased a new stake in shares of Cardiol Therapeutics during the 4th quarter worth about $416,000. Finally, Tejara Capital Ltd grew its holdings in shares of Cardiol Therapeutics by 95.1% during the 4th quarter. Tejara Capital Ltd now owns 5,130,122 shares of the company’s stock worth $4,893,000 after purchasing an additional 2,500,000 shares during the period. Institutional investors and hedge funds own 12.49% of the company’s stock.

About Cardiol Therapeutics

Cardiol Therapeutics Inc (NASDAQ: CRDL) is a clinical-stage pharmaceutical company dedicated to developing immunomodulatory treatments for patients with cardiovascular disease. The company’s lead asset, CardiolRx, is a proprietary, pharmaceutical-grade cannabidiol (CBD) formulation designed to target the inflammation and oxidative stress underlying conditions such as acute myocardial injury and heart failure. Cardiol holds exclusive global rights to CardiolRx through a licensing partnership and is advancing additional preclinical programs focused on small-molecule immunotherapies for heart disease.

CardiolRx is formulated for oral administration and has been evaluated in a randomized, placebo-controlled Phase 2 myocardial protection study assessing safety and key biomarkers following acute coronary syndromes.