Cardiol Therapeutics (NASDAQ:CRDL) Shares Up 6%

Cardiol Therapeutics Inc. (NASDAQ:CRDL)’s share price shot up 6% during trading on Friday . The company traded as high as $1.78 and last traded at $1.77. 567,410 shares changed hands during trading, an increase of 57% from the average session volume of 360,502 shares. The stock had previously closed at $1.67.

Cardiol Therapeutics Trading Up 6.0 %

The business has a 50-day moving average of $1.65 and a 200 day moving average of $1.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.36 and a current ratio of 4.36. The stock has a market cap of $120.66 million, a PE ratio of -5.36 and a beta of 0.95.

Institutional Trading of Cardiol Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in Cardiol Therapeutics by 66.2% in the 1st quarter. Royal Bank of Canada now owns 35,214 shares of the company’s stock worth $54,000 after buying an additional 14,020 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Cardiol Therapeutics in the 1st quarter valued at about $29,000. Jane Street Group LLC purchased a new stake in shares of Cardiol Therapeutics during the 4th quarter worth about $32,000. Osaic Holdings Inc. grew its holdings in shares of Cardiol Therapeutics by 81.5% during the 2nd quarter. Osaic Holdings Inc. now owns 66,800 shares of the company’s stock worth $59,000 after purchasing an additional 30,000 shares during the period. Finally, Advisor Group Holdings Inc. grew its holdings in shares of Cardiol Therapeutics by 227.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 74,710 shares of the company’s stock worth $38,000 after purchasing an additional 51,870 shares during the period. 12.49% of the stock is owned by institutional investors and hedge funds.

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 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.