Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 2,400,000 shares, an increase of 28.3% from the August 15th total of 1,870,000 shares. Based on an average daily volume of 707,800 shares, the short-interest ratio is presently 3.4 days. Currently, 3.0% of the shares of the stock are sold short. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily volume of 707,800 shares, the short-interest ratio is presently 3.4 days.
Institutional Investors Weigh In On Cardiol Therapeutics
A number of large investors have recently bought and sold shares of CRDL. PVG Asset Management Corp bought a new stake in Cardiol Therapeutics in the fourth quarter worth $624,000. Tejara Capital Ltd boosted its holdings in Cardiol Therapeutics by 2.6% in the first quarter. Tejara Capital Ltd now owns 3,194,990 shares of the company's stock worth $3,099,000 after purchasing an additional 79,553 shares in the last quarter. Cetera Investment Advisers bought a new stake in Cardiol Therapeutics in the fourth quarter worth $56,000. Thompson Davis & CO. Inc. bought a new stake in Cardiol Therapeutics in the second quarter worth $39,000. Finally, Lion Street Advisors LLC boosted its holdings in Cardiol Therapeutics by 8.5% in the first quarter. Lion Street Advisors LLC now owns 333,725 shares of the company's stock worth $318,000 after purchasing an additional 26,059 shares in the last quarter. 12.49% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
CRDL has been the topic of several recent analyst reports. Brookline Capital Management raised Cardiol Therapeutics to a "strong-buy" rating in a report on Wednesday. HC Wainwright started coverage on Cardiol Therapeutics in a report on Monday, June 2nd. They issued a "buy" rating and a $9.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Strong Buy" and an average target price of $8.00.
Check Out Our Latest Report on CRDL
Cardiol Therapeutics Stock Up 0.9%
Shares of Cardiol Therapeutics stock traded up $0.01 on Friday, hitting $1.12. 1,000,684 shares of the company traded hands, compared to its average volume of 704,363. The company has a 50-day moving average price of $1.20 and a 200 day moving average price of $1.18. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a 12-month low of $0.77 and a 12-month high of $2.44. The company has a market cap of $96.25 million, a PE ratio of -3.29 and a beta of 1.03.
Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. Sell-side analysts predict that Cardiol Therapeutics will post -0.33 earnings per share for the current year.
Cardiol Therapeutics Company Profile
(
Get Free Report)
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.
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