HC Wainwright Reaffirms Buy Rating for Cardiol Therapeutics (NASDAQ:CRDL)

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $9.00 target price on the stock. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($0.37) EPS and FY2025 earnings at ($0.33) EPS.

Cardiol Therapeutics Stock Performance

NASDAQ CRDL opened at $1.31 on Wednesday. The firm has a market capitalization of $107.03 million, a P/E ratio of -3.36 and a beta of 0.83. The stock has a 50-day simple moving average of $1.70 and a two-hundred day simple moving average of $1.97. 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 fifty-two week low of $0.79 and a fifty-two week high of $3.12.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new stake in shares of Cardiol Therapeutics during the 3rd quarter worth approximately $29,000. Townsquare Capital LLC purchased a new stake in Cardiol Therapeutics during the third quarter worth $27,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Cardiol Therapeutics during the third quarter valued at $27,000. Foundations Investment Advisors LLC increased its holdings in Cardiol Therapeutics by 237.4% in the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock valued at $321,000 after buying an additional 113,950 shares in the last quarter. Finally, Lion Street Advisors LLC increased its holdings in Cardiol Therapeutics by 7.9% in the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock valued at $544,000 after buying an additional 20,000 shares in the last quarter. 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 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.