Cardiol Therapeutics (TSE:CRDL) Trading Up 10.5% - Time to Buy?

Key Points

• Shares jumped 10.5% to C$1.69 (intraday high C$1.74) on Friday with trading volume of ~277,314 shares, a 199% increase versus the average.
• Valuation and liquidity: market cap C$189.86M, negative P/E (-4.15), strong liquidity ratios (quick 6.84, current 3.89) and debt-to-equity of 1.40, with 50- and 200-day moving averages at C$1.40 and C$1.44.
• Clinical-stage biotech: Cardiol is developing CardiolRx (cannabidiol) as an anti-inflammatory/anti-fibrotic therapy for heart disease, targeting the inflammasome pathway implicated in myocarditis, pericarditis and heart failure.

Shares of Cardiol Therapeutics Inc. (TSE:CRDL - ) rose 10.5% on Friday . The stock traded as high as C$1.74 and last traded at C$1.69. Approximately 277,314 shares changed hands during mid-day trading, an increase of 199% from the average daily volume of 92,647 shares. The stock had previously closed at C$1.53.

Cardiol Therapeutics Price Performance

The company has a debt-to-equity ratio of 1.40, a quick ratio of 6.84 and a current ratio of 3.89. The firm has a market cap of C$189.86 million, a P/E ratio of -4.15 and a beta of 0.94. The company has a 50-day moving average of C$1.40 and a 200 day moving average of C$1.44.

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. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with myocarditis, pericarditis, and heart failure.

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