PVG Asset Management Corp Buys Shares of 487,295 Cardiol Therapeutics Inc. (NASDAQ:CRDL)

PVG Asset Management Corp bought a new position in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 487,295 shares of the company's stock, valued at approximately $624,000. Cardiol Therapeutics comprises approximately 3.0% of PVG Asset Management Corp's holdings, making the stock its 13th biggest holding. PVG Asset Management Corp owned about 0.59% of Cardiol Therapeutics as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CRDL. Tejara Capital Ltd raised its position in shares of Cardiol Therapeutics by 75.9% in the 4th quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company's stock worth $3,988,000 after acquiring an additional 1,344,167 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Cardiol Therapeutics during the fourth quarter valued at approximately $398,000. Atria Investments Inc purchased a new stake in Cardiol Therapeutics in the 4th quarter valued at about $174,000. Virtu Financial LLC bought a new stake in Cardiol Therapeutics during the fourth quarter worth $61,000. Finally, Cetera Investment Advisers purchased a new position in shares of Cardiol Therapeutics in the 4th quarter worth about $56,000. Institutional investors own 12.49% of the company's stock.

Cardiol Therapeutics Stock Down 0.4%

Shares of Cardiol Therapeutics stock traded down $0.01 on Friday, reaching $1.25. The company's stock had a trading volume of 78,146 shares, compared to its average volume of 361,696. Cardiol Therapeutics Inc. has a 52 week low of $0.77 and a 52 week high of $3.12. The firm's fifty day simple moving average is $1.04 and its two-hundred day simple moving average is $1.24. 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 company has a market capitalization of $102.85 million, a price-to-earnings ratio of -3.19 and a beta of 0.98.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last posted its quarterly earnings data 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. Equities analysts anticipate that Cardiol Therapeutics Inc. will post -0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Cardiol Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $8.67.

Cardiol Therapeutics Company 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.