Cardiol Therapeutics (NASDAQ:CRDL) Receives New Coverage from Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report sent to investors on Monday, Marketbeat reports. The brokerage issued a buy rating and a $9.00 target price on the stock.

Cardiol Therapeutics Stock Performance

NASDAQ CRDL opened at $1.76 on Monday. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a fifty-two week low of $0.55 and a fifty-two week high of $2.17. The business has a fifty day moving average of $1.67 and a 200-day moving average of $1.19. The stock has a market cap of $120.18 million, a price-to-earnings ratio of -5.33 and a beta of 0.95.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cardiol Therapeutics stock. Tejara Capital Ltd lifted its position in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 29.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 645,457 shares of the company’s stock after buying an additional 148,396 shares during the period. Tejara Capital Ltd owned 1.00% of Cardiol Therapeutics worth $578,000 as of its most recent SEC filing. 12.49% of the stock is owned by institutional investors and hedge funds.

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 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.