Cardiol Therapeutics Inc. (NASDAQ:CRDL) Position Reduced by AdvisorShares Investments LLC

AdvisorShares Investments LLC cut its holdings in Cardiol Therapeutics Inc. (NASDAQ:CRDL - Free Report) by 24.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 882,488 shares of the company's stock after selling 288,381 shares during the period. AdvisorShares Investments LLC owned about 1.07% of Cardiol Therapeutics worth $1,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CRDL. Jane Street Group LLC acquired a new stake in Cardiol Therapeutics during the third quarter worth about $29,000. Jones Financial Companies Lllp purchased a new position in Cardiol Therapeutics in the fourth quarter valued at approximately $25,000. Virtu Financial LLC acquired a new position in Cardiol Therapeutics during the fourth quarter valued at approximately $61,000. Atria Investments Inc acquired a new stake in shares of Cardiol Therapeutics in the fourth quarter worth $174,000. Finally, Lion Street Advisors LLC increased its holdings in Cardiol Therapeutics by 12.6% in the 4th quarter. Lion Street Advisors LLC now owns 307,666 shares of the company's stock valued at $396,000 after purchasing an additional 34,385 shares in the last quarter. Hedge funds and other institutional investors own 12.49% of the company's stock.

Cardiol Therapeutics Stock Performance

Shares of NASDAQ:CRDL traded up $0.02 during trading hours on Friday, hitting $1.14. The stock had a trading volume of 152,719 shares, compared to its average volume of 376,559. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. Cardiol Therapeutics Inc. has a 1-year low of $0.77 and a 1-year high of $3.12. The stock's fifty day simple moving average is $1.04 and its 200 day simple moving average is $1.34. The firm has a market capitalization of $94.17 million, a price-to-earnings ratio of -2.92 and a beta of 1.00.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last issued its quarterly earnings results on Monday, March 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. Sell-side analysts anticipate that Cardiol Therapeutics Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. RODMAN&RENSHAW upgraded Cardiol Therapeutics to a "strong-buy" rating in a report on Tuesday, January 28th. Rodman & Renshaw started coverage on shares of Cardiol Therapeutics in a research report on Tuesday, January 28th. They issued a "buy" rating and a $7.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and set a $9.00 price target on shares of Cardiol Therapeutics in a research report on Wednesday, April 16th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cardiol Therapeutics currently has a consensus rating of "Buy" and an average price target of $8.40.

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.