Cardiol Therapeutics (NASDAQ:CRDL) Earns Buy Rating from HC Wainwright

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They currently have a $9.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 471.43% from the stock’s previous close.

Cardiol Therapeutics Price Performance

Shares of CRDL opened at $1.58 on Wednesday. Cardiol Therapeutics has a 12-month low of $0.79 and a 12-month high of $3.12. The business has a 50-day simple moving average of $1.97 and a two-hundred day simple moving average of $2.08. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. The stock has a market cap of $128.52 million, a PE ratio of -4.00 and a beta of 0.91.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in Cardiol Therapeutics during the 3rd quarter worth approximately $27,000. Townsquare Capital LLC purchased a new stake in shares of Cardiol Therapeutics during the third quarter valued at approximately $27,000. Jane Street Group LLC bought a new position in Cardiol Therapeutics during the third quarter valued at $29,000. Lion Street Advisors LLC boosted its holdings 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 acquiring an additional 20,000 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new stake in Cardiol Therapeutics during the second quarter valued at $59,000. 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.