Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report)'s stock price fell 4.6% during trading on Friday . The stock traded as low as $1.03 and last traded at $1.04. 602,895 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 748,075 shares. The stock had previously closed at $1.09.
Wall Street Analyst Weigh In
Several brokerages have commented on CRDL. Brookline Capital Management raised shares of Cardiol Therapeutics to a "strong-buy" rating in a research note on Wednesday, September 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cardiol Therapeutics in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cardiol Therapeutics presently has a consensus rating of "Buy" and an average target price of $8.00.
Get Our Latest Report on CRDL
Cardiol Therapeutics Price Performance
The company has a market cap of $89.38 million, a price-to-earnings ratio of -3.06 and a beta of 1.02. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. The company's fifty day moving average price is $1.11 and its two-hundred day moving average price is $1.17.
Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. On average, equities research analysts forecast that Cardiol Therapeutics Inc. will post -0.33 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Cardiol Therapeutics by 136.2% during the second quarter. Bank of America Corp DE now owns 26,455 shares of the company's stock worth $36,000 after purchasing an additional 15,255 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in Cardiol Therapeutics during the second quarter worth $39,000. Sheets Smith Investment Management acquired a new position in Cardiol Therapeutics during the third quarter worth $152,000. Lion Street Advisors LLC boosted its holdings in Cardiol Therapeutics by 8.5% during 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 during the last quarter. Finally, Tejara Capital Ltd boosted its holdings in Cardiol Therapeutics by 2.6% during 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 during the last quarter. Institutional investors and hedge funds own 12.49% of the company's stock.
About Cardiol Therapeutics
(
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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