HC Wainwright Has Positive Forecast for CRDL FY2024 Earnings

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Equities research analysts at HC Wainwright boosted their FY2024 earnings estimates for shares of Cardiol Therapeutics in a research note issued on Wednesday, December 18th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings per share of ($0.37) for the year, up from their prior forecast of ($0.38). HC Wainwright 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 ($0.08) EPS and FY2025 earnings at ($0.33) EPS.

Cardiol Therapeutics Stock Performance

Cardiol Therapeutics stock opened at $1.28 on Friday. Cardiol Therapeutics has a fifty-two week low of $0.79 and a fifty-two week high of $3.12. The stock’s 50 day simple moving average is $1.69 and its two-hundred day simple moving average is $1.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. The stock has a market cap of $104.58 million, a price-to-earnings ratio of -3.28 and a beta of 0.83.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. AdvisorShares Investments LLC increased its holdings in shares of Cardiol Therapeutics by 12.7% in the 2nd 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 in the last quarter. Lion Street Advisors LLC boosted its position in shares of Cardiol Therapeutics by 7.9% during the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock valued at $544,000 after buying an additional 20,000 shares during the last quarter. Foundations Investment Advisors LLC boosted its position in shares of Cardiol Therapeutics by 237.4% during the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock valued at $321,000 after buying an additional 113,950 shares during the last quarter. Jane Street Group LLC bought a new stake in Cardiol Therapeutics in the 3rd quarter worth about $29,000. Finally, Townsquare Capital LLC purchased a new position in Cardiol Therapeutics in the 3rd quarter worth about $27,000. Hedge funds and other 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.