Cardiol Therapeutics (NASDAQ:CRDL) Earns Buy Rating from Analysts at Rodman & Renshaw

Rodman & Renshaw assumed coverage on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $7.00 price objective on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Cardiol Therapeutics in a report on Wednesday, December 18th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $8.40.

Cardiol Therapeutics Trading Up 8.4 %

Shares of CRDL stock opened at $1.42 on Tuesday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a fifty-two week low of $0.96 and a fifty-two week high of $3.12. The firm’s 50 day moving average price is $1.37 and its two-hundred day moving average price is $1.78. The stock has a market cap of $117.31 million, a price-to-earnings ratio of -3.64 and a beta of 0.89.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Townsquare Capital LLC acquired a new position in Cardiol Therapeutics in the 3rd quarter worth $27,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Cardiol Therapeutics in the third quarter worth about $27,000. Jane Street Group LLC purchased a new position in Cardiol Therapeutics in the third quarter valued at about $29,000. Foundations Investment Advisors LLC grew its stake in Cardiol Therapeutics by 237.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock valued at $321,000 after purchasing an additional 113,950 shares in the last quarter. Finally, Lion Street Advisors LLC increased its holdings in Cardiol Therapeutics by 12.6% during the 4th quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after purchasing an additional 34,385 shares during the last quarter. 12.49% of the stock is currently owned by hedge funds and other institutional investors.

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.