Cardiol Therapeutics’ (CRDL) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $9.00 price target on the stock.

Cardiol Therapeutics Stock Performance

Shares of CRDL stock opened at $1.56 on Wednesday. The stock’s fifty day simple moving average is $1.98 and its 200-day simple moving average is $2.09. The company has a market capitalization of $127.30 million, a price-to-earnings ratio of -4.23 and a beta of 0.91. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a 1-year low of $0.79 and a 1-year high of $3.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in Cardiol Therapeutics in the 3rd quarter worth approximately $27,000. Townsquare Capital LLC acquired a new stake in Cardiol Therapeutics during the third quarter valued at $27,000. Jane Street Group LLC purchased a new position in Cardiol Therapeutics in the third quarter valued at about $29,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Cardiol Therapeutics during the 2nd quarter worth about $59,000. Finally, Foundations Investment Advisors LLC acquired a new stake in shares of Cardiol Therapeutics during the 2nd quarter valued at about $97,000. 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.