Cardiol Therapeutics (NASDAQ:CRDL) Coverage Initiated at HC Wainwright

HC Wainwright started coverage on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a report released on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $9.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 389.13% from the stock’s previous close.

Cardiol Therapeutics Trading Up 4.5 %

Shares of CRDL stock opened at $1.84 on Monday. Cardiol Therapeutics has a fifty-two week low of $0.55 and a fifty-two week high of $2.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.36 and a current ratio of 4.36. The stock’s fifty day moving average is $1.68 and its two-hundred day moving average is $1.20. The firm has a market capitalization of $125.64 million, a P/E ratio of -5.58 and a beta of 0.95.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cardiol Therapeutics stock. Tejara Capital Ltd lifted its stake in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 29.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 645,457 shares of the company’s stock after acquiring 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 filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 12.49% of the company’s stock.

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.