Envestnet Asset Management Inc. Makes New Investment in Cardiol Therapeutics Inc. (NASDAQ:CRDL)

Envestnet Asset Management Inc. bought a new stake in Cardiol Therapeutics Inc. (NASDAQ:CRDL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 309,684 shares of the company's stock, valued at approximately $398,000. Envestnet Asset Management Inc. owned about 0.37% of Cardiol Therapeutics at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Cardiol Therapeutics in the fourth quarter valued at approximately $61,000. Tejara Capital Ltd raised its position in shares of Cardiol Therapeutics by 75.9% during the 4th quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company's stock valued at $3,988,000 after acquiring an additional 1,344,167 shares during the last quarter. Atria Investments Inc acquired a new position in shares of Cardiol Therapeutics in the 4th quarter valued at $174,000. Jones Financial Companies Lllp bought a new position in shares of Cardiol Therapeutics in the 4th quarter worth $25,000. Finally, Lion Street Advisors LLC grew its stake in shares of Cardiol Therapeutics by 12.6% during the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company's stock worth $396,000 after purchasing an additional 34,385 shares during the period. Institutional investors and hedge funds own 12.49% of the company's stock.

Cardiol Therapeutics Stock Up 0.9 %

Shares of CRDL stock opened at $1.15 on Tuesday. Cardiol Therapeutics Inc. has a 12-month low of $0.77 and a 12-month high of $3.12. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average of $1.04 and a 200-day moving average of $1.33. The company has a market capitalization of $95.00 million, a price-to-earnings ratio of -2.95 and a beta of 0.98.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last released its earnings results on Monday, March 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. As a group, equities research analysts predict that Cardiol Therapeutics Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRDL. HC Wainwright reissued a "buy" rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a research note on Wednesday, April 16th. Rodman & Renshaw started coverage on shares of Cardiol Therapeutics in a research note on Tuesday, January 28th. They set a "buy" rating and a $7.00 price objective on the stock. Finally, RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a "strong-buy" rating in a report on Tuesday, January 28th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $8.40.

Cardiol Therapeutics Profile

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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