Research analysts at HC Wainwright began coverage on shares of Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set a "buy" rating and a $9.00 price target on the stock. HC Wainwright's price target suggests a potential upside of 411.36% from the company's previous close.
Cardiol Therapeutics Price Performance
CRDL traded down $0.01 on Monday, reaching $1.76. 330,427 shares of the company's stock were exchanged, compared to its average volume of 360,111. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.36 and a quick ratio of 4.36. The stock has a market cap of $120.18 million, a PE ratio of -5.41 and a beta of 0.95. The stock's fifty day moving average price is $1.65 and its 200-day moving average price is $1.18. Cardiol Therapeutics has a twelve month low of $0.55 and a twelve month high of $2.17.
Hedge Funds Weigh In On Cardiol Therapeutics
A hedge fund recently raised its stake in Cardiol Therapeutics stock. Tejara Capital Ltd raised its position in Cardiol Therapeutics Inc. (NASDAQ:CRDL - Free Report) by 29.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 645,457 shares of the company's stock after purchasing an additional 148,396 shares during the quarter. Tejara Capital Ltd owned about 1.00% of Cardiol Therapeutics worth $578,000 as of its most recent SEC filing. Institutional investors and hedge funds own 12.49% of the company's stock.
About Cardiol Therapeutics
(
Get Free Report)
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 cardiovascular disease (CVD). Its lead product CardiolRx, which is in Phase II/III multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx for patients hospitalized with COVID-19, as well as for the treatment of recurrent pericarditis and acute myocarditis.
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