HC Wainwright Has Positive Outlook for CRDL FY2024 Earnings

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Analysts at HC Wainwright upped their FY2024 EPS estimates for Cardiol Therapeutics in a research report issued to clients and investors on Wednesday, December 18th. HC Wainwright analyst V. Bernardino now anticipates that the company will post earnings per share of ($0.37) for the year, up from their prior forecast of ($0.38). HC Wainwright has a “Buy” rating and a $9.00 price objective on the stock. The consensus estimate for Cardiol Therapeutics’ current full-year earnings is ($0.33) per share. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q4 2024 earnings at ($0.08) EPS and FY2025 earnings at ($0.33) EPS.

Cardiol Therapeutics Price Performance

Shares of Cardiol Therapeutics stock opened at $1.31 on Friday. 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 52-week low of $0.79 and a 52-week high of $3.12. The company has a fifty day moving average of $1.70 and a 200-day moving average of $1.97. The stock has a market capitalization of $107.03 million, a price-to-earnings ratio of -3.36 and a beta of 0.83.

Institutional Trading of Cardiol Therapeutics

Several institutional investors have recently added to or reduced their stakes in CRDL. Townsquare Capital LLC purchased a new position in shares of Cardiol Therapeutics in the third quarter worth about $27,000. Wealth Enhancement Advisory Services LLC purchased a new position in Cardiol Therapeutics in the 3rd quarter worth approximately $27,000. Jane Street Group LLC purchased a new position in Cardiol Therapeutics in the 3rd quarter worth approximately $29,000. Foundations Investment Advisors LLC purchased a new stake in Cardiol Therapeutics during the 2nd quarter valued at $97,000. Finally, Lion Street Advisors LLC boosted its holdings in shares of Cardiol Therapeutics by 7.9% during the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock worth $544,000 after purchasing an additional 20,000 shares during the period. 12.49% of the stock is currently 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.