Wealth Enhancement Advisory Services LLC Takes $27,000 Position in Cardiol Therapeutics Inc. (NASDAQ:CRDL)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,700 shares of the company’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Foundations Investment Advisors LLC increased its position in shares of Cardiol Therapeutics by 237.4% in the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock worth $321,000 after purchasing an additional 113,950 shares during the last quarter. Lion Street Advisors LLC increased its position in shares of Cardiol Therapeutics by 7.9% in the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock worth $544,000 after purchasing an additional 20,000 shares during the last quarter. AdvisorShares Investments LLC increased its position in shares of Cardiol Therapeutics by 12.7% in 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 last quarter. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of Cardiol Therapeutics in the second quarter worth approximately $59,000. 12.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a research report on Thursday, October 24th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $8.75.

Cardiol Therapeutics Stock Performance

NASDAQ:CRDL opened at $1.91 on Thursday. Cardiol Therapeutics Inc. has a fifty-two week low of $0.79 and a fifty-two week high of $3.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.39. The business has a 50 day moving average price of $2.00 and a 200-day moving average price of $2.09.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. Equities analysts forecast that Cardiol Therapeutics Inc. will post -0.36 earnings per share for the current year.

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.