Cardiol Therapeutics Inc. (NASDAQ:CRDL) Short Interest Update

Cardiol Therapeutics Inc. (NASDAQ:CRDL) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 776,300 shares, a growth of 107.6% from the May 31st total of 374,000 shares. Based on an average daily volume of 501,700 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.2% of the shares of the company are short sold.

Analyst Ratings Changes

CRDL has been the topic of several recent research reports. Roth Capital upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Wednesday. Canaccord Genuity Group lifted their target price on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a research report on Friday, June 14th. Canaccord Genuity Group lifted their price objective on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Roth Mkm initiated coverage on Cardiol Therapeutics in a research note on Wednesday. They set a “buy” rating and a $10.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $7.60.

Cardiol Therapeutics Trading Up 1.0 %

Shares of CRDL stock opened at $2.02 on Friday. The company has a market cap of $139.38 million, a PE ratio of -5.77 and a beta of 0.99. Cardiol Therapeutics has a 1 year low of $0.66 and a 1 year high of $3.12. The stock’s 50 day simple moving average is $2.21 and its two-hundred day simple moving average is $1.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.81 and a quick ratio of 2.81.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Research analysts predict that Cardiol Therapeutics will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Cardiol Therapeutics

A hedge fund recently raised its stake in Cardiol Therapeutics stock. Tejara Capital Ltd increased its holdings in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 29.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 645,457 shares of the company’s stock after acquiring an additional 148,396 shares during the period. Tejara Capital Ltd owned about 1.00% of Cardiol Therapeutics worth $578,000 at the end of the most recent 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 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.