Cardiol Therapeutics (NASDAQ:CRDL) Earns “Buy” Rating from HC Wainwright

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $9.00 target price on the stock.

Cardiol Therapeutics Price Performance

Cardiol Therapeutics stock opened at $1.37 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. Cardiol Therapeutics has a one year low of $0.79 and a one year high of $3.12. The company has a market cap of $111.93 million, a P/E ratio of -3.51 and a beta of 0.83. The business has a fifty day moving average of $1.72 and a two-hundred day moving average of $1.98.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC purchased a new position in Cardiol Therapeutics in the 2nd quarter valued at approximately $97,000. AdvisorShares Investments LLC raised its stake in Cardiol Therapeutics by 12.7% during the second quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock worth $2,934,000 after purchasing an additional 164,994 shares during the period. Lion Street Advisors LLC raised its holdings in shares of Cardiol Therapeutics by 7.9% in the 3rd quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock worth $544,000 after purchasing an additional 20,000 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Cardiol Therapeutics during the third quarter worth approximately $27,000. Finally, Townsquare Capital LLC acquired a new stake in Cardiol Therapeutics in the 3rd quarter valued at $27,000. 12.49% of the stock is owned by hedge funds and other institutional investors.

About Cardiol Therapeutics

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.