Cardiol Therapeutics (NASDAQ:CRDL) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Cardiol Therapeutics (NASDAQ:CRDL) from a sell rating to a hold rating in a research note issued to investors on Sunday.

CRDL has been the subject of several other research reports. upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 3rd. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Cardiol Therapeutics in a research note on Tuesday, February 10th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cardiol Therapeutics presently has an average rating of “Hold” and a consensus target price of $9.00.

Cardiol Therapeutics Price Performance

NASDAQ:CRDL opened at $1.41 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.89 and a quick ratio of 3.89. Cardiol Therapeutics has a one year low of $0.77 and a one year high of $1.59. The company has a fifty day moving average price of $1.06 and a 200 day moving average price of $1.05. The stock has a market cap of $157.67 million, a P/E ratio of -5.04 and a beta of 0.82.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings results on Monday, March 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.04. Analysts anticipate that Cardiol Therapeutics will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Cardiol Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CRDL. Bank of America Corp DE raised its stake in shares of Cardiol Therapeutics by 136.2% in the 2nd quarter. Bank of America Corp DE now owns 26,455 shares of the company’s stock valued at $36,000 after buying an additional 15,255 shares in the last quarter. Simplex Trading LLC boosted its position in shares of Cardiol Therapeutics by 96.9% during the 4th quarter. Simplex Trading LLC now owns 32,197 shares of the company’s stock valued at $31,000 after acquiring an additional 15,842 shares in the last quarter. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Cardiol Therapeutics during the 4th quarter valued at about $31,000. Boyer Financial Services Inc. bought a new stake in Cardiol Therapeutics in the fourth quarter valued at about $33,000. Finally, Susquehanna International Group LLP raised its position in Cardiol Therapeutics by 366.5% in the third quarter. Susquehanna International Group LLP now owns 93,398 shares of the company’s stock worth $100,000 after purchasing an additional 73,375 shares in the last quarter. Institutional investors own 12.49% of the company’s stock.

About Cardiol Therapeutics

Cardiol Therapeutics Inc (NASDAQ: CRDL) is a clinical-stage pharmaceutical company dedicated to developing immunomodulatory treatments for patients with cardiovascular disease. The company’s lead asset, CardiolRx, is a proprietary, pharmaceutical-grade cannabidiol (CBD) formulation designed to target the inflammation and oxidative stress underlying conditions such as acute myocardial injury and heart failure. Cardiol holds exclusive global rights to CardiolRx through a licensing partnership and is advancing additional preclinical programs focused on small-molecule immunotherapies for heart disease.

CardiolRx is formulated for oral administration and has been evaluated in a randomized, placebo-controlled Phase 2 myocardial protection study assessing safety and key biomarkers following acute coronary syndromes.