Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) has earned a consensus rating of "Buy" from the five brokerages that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $8.67.
Separately, HC Wainwright assumed coverage on shares of Cardiol Therapeutics in a research note on Monday, June 2nd. They issued a "buy" rating and a $9.00 price target on the stock.
Get Our Latest Analysis on CRDL
Institutional Investors Weigh In On Cardiol Therapeutics
Several hedge funds have recently modified their holdings of the company. Tejara Capital Ltd increased its holdings in Cardiol Therapeutics by 75.9% in the 4th quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company's stock worth $3,988,000 after purchasing an additional 1,344,167 shares in the last quarter. PVG Asset Management Corp bought a new stake in shares of Cardiol Therapeutics during the fourth quarter worth about $624,000. Envestnet Asset Management Inc. acquired a new position in shares of Cardiol Therapeutics in the fourth quarter valued at approximately $398,000. Atria Investments Inc acquired a new position in shares of Cardiol Therapeutics in the fourth quarter valued at approximately $174,000. Finally, Virtu Financial LLC bought a new position in Cardiol Therapeutics in the 4th quarter valued at approximately $61,000. Institutional investors and hedge funds own 12.49% of the company's stock.
Cardiol Therapeutics Price Performance
Shares of CRDL stock traded down $0.08 during trading hours on Friday, reaching $1.24. The company's stock had a trading volume of 291,778 shares, compared to its average volume of 317,621. Cardiol Therapeutics has a fifty-two week low of $0.77 and a fifty-two week high of $2.63. The firm's 50 day simple moving average is $1.19 and its 200-day simple moving average is $1.20. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $102.49 million, a price-to-earnings ratio of -3.65 and a beta of 1.03.
Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last announced its quarterly earnings data on Monday, March 31st. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. Sell-side analysts forecast that Cardiol Therapeutics will post -0.33 earnings per share for the current year.
About Cardiol Therapeutics
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Get Free ReportCardiol 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.
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