HC Wainwright Issues Negative Outlook for CRDL Earnings

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Analysts at HC Wainwright reduced their Q3 2024 EPS estimates for Cardiol Therapeutics in a research report issued to clients and investors on Thursday, October 24th. HC Wainwright analyst V. Bernardino now anticipates that the company will post earnings of ($0.11) per share for the quarter, down from their previous forecast of ($0.09). HC Wainwright currently has a “Buy” rating and a $9.00 price objective on the stock. The consensus estimate for Cardiol Therapeutics’ current full-year earnings is ($0.33) per share. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.44) EPS and FY2025 earnings at ($0.46) EPS.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03.

Cardiol Therapeutics Trading Up 2.1 %

Shares of Cardiol Therapeutics stock opened at $1.92 on Monday. The firm has a 50-day moving average of $2.01 and a 200-day moving average of $2.08. The stock has a market cap of $132.48 million, a PE ratio of -5.49 and a beta of 0.89. Cardiol Therapeutics has a 52-week low of $0.72 and a 52-week high of $3.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.39 and a current ratio of 2.39.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of institutional investors have recently modified their holdings of CRDL. Lion Street Advisors LLC boosted its position in shares of Cardiol Therapeutics by 31.4% in the second quarter. Lion Street Advisors LLC now owns 253,281 shares of the company’s stock valued at $505,000 after acquiring an additional 60,581 shares during the period. Baader Bank Aktiengesellschaft bought a new stake in Cardiol Therapeutics during the second quarter worth about $59,000. Foundations Investment Advisors LLC bought a new stake in Cardiol Therapeutics during the second quarter worth about $97,000. AdvisorShares Investments LLC lifted its position in Cardiol Therapeutics by 12.7% during the second quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock worth $2,934,000 after purchasing an additional 164,994 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Cardiol Therapeutics during the third quarter worth about $27,000. Institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Company Profile

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.