Cardiol Therapeutics (TSE:CRDL) Trading 7.1% Higher - Here's Why

Key Points

• Cardiol Therapeutics experienced a notable 7.1% increase in its stock price on Monday, reaching C$2.10 after trading as high as C$2.17.
• The company's share trading volume surged by 239% compared to its average, with 267,396 shares traded during the session.
• Cardiol Therapeutics is a clinical-stage company focused on research and clinical development of therapies for heart disease, with its lead drug candidate being CardiolRxTM (cannabidiol).

Shares of Cardiol Therapeutics Inc. (TSE:CRDL - Get Free Report) rose 7.1% during mid-day trading on Monday . The company traded as high as C$2.17 and last traded at C$2.10. Approximately 267,396 shares were traded during mid-day trading, an increase of 239% from the average daily volume of 78,793 shares. The stock had previously closed at C$1.96.

Cardiol Therapeutics Stock Performance

The company has a market capitalization of C$161.81 million, a P/E ratio of -3.83 and a beta of 0.70. The stock's fifty day moving average price is C$1.85 and its 200-day moving average price is C$1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 6.84 and a current ratio of 2.49.

About Cardiol Therapeutics

Cardiol Therapeutics Inc NASDAQ: CRDL TSX: CRDL is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. The Company's lead drug candidate, CardiolRxTM (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease.