Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) dropped 3.7% on Monday . The stock traded as low as $1.04 and last traded at $1.05. Approximately 338,307 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,157,640 shares. The stock had previously closed at $1.09.
Analysts Set New Price Targets
Separately, HC Wainwright initiated coverage on shares of Cardiol Therapeutics in a research note on Monday, June 2nd. They set a "buy" rating and a $9.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat, Cardiol Therapeutics currently has a consensus rating of "Buy" and an average target price of $8.00.
Read Our Latest Stock Analysis on CRDL
Cardiol Therapeutics Stock Performance
The company has a market cap of $89.57 million, a price-to-earnings ratio of -3.15 and a beta of 1.03. The company's fifty day moving average price is $1.23 and its two-hundred day moving average price is $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 (NASDAQ:CRDL - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. Research analysts expect that Cardiol Therapeutics Inc. will post -0.33 earnings per share for the current year.
Institutional Investors Weigh In On Cardiol Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in Cardiol Therapeutics by 136.2% during the 2nd quarter. Bank of America Corp DE now owns 26,455 shares of the company's stock worth $36,000 after buying an additional 15,255 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in Cardiol Therapeutics during the 2nd quarter worth about $39,000. Cetera Investment Advisers bought a new stake in Cardiol Therapeutics during the 4th quarter worth about $56,000. Lion Street Advisors LLC lifted its position in Cardiol Therapeutics by 8.5% during the 1st quarter. Lion Street Advisors LLC now owns 333,725 shares of the company's stock worth $318,000 after buying an additional 26,059 shares in the last quarter. Finally, PVG Asset Management Corp bought a new stake in shares of Cardiol Therapeutics in the 4th quarter valued at about $624,000. 12.49% of the stock is owned by institutional investors.
About Cardiol Therapeutics
(
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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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