Cardiol Therapeutics (NASDAQ:CRDL) Upgraded 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 published on Saturday morning.

Other research analysts have also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating on shares of Cardiol Therapeutics in a research note on Tuesday, July 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiol Therapeutics in a report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cardiol Therapeutics has a consensus rating of “Hold” and a consensus target price of $9.50.

Cardiol Therapeutics Stock Performance

Shares of CRDL opened at $1.80 on Friday. The stock has a 50 day moving average of $1.19 and a 200 day moving average of $1.19. The company has a market capitalization of $208.60 million, a price-to-earnings ratio of -7.20 and a beta of 0.72. Cardiol Therapeutics has a 12 month low of $0.88 and a 12 month high of $1.94.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. As a group, equities research analysts predict that Cardiol Therapeutics will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRDL. Royal Bank of Canada lifted its position in Cardiol Therapeutics by 62.3% during the first quarter. Royal Bank of Canada now owns 21,648 shares of the company’s stock valued at $29,000 after purchasing an additional 8,306 shares during the last quarter. Security National Bank of Sioux City Iowa IA purchased a new stake in Cardiol Therapeutics during the fourth quarter valued at about $31,000. Simplex Trading LLC lifted its stake in Cardiol Therapeutics by 96.9% during the fourth quarter. Simplex Trading LLC now owns 32,197 shares of the company’s stock worth $31,000 after purchasing an additional 15,842 shares during the last quarter. Boyer Financial Services Inc. purchased a new position in shares of Cardiol Therapeutics in the 4th quarter worth about $33,000. Finally, Bank of America Corp DE boosted its holdings 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 worth $36,000 after purchasing an additional 15,255 shares in the last quarter. 12.49% of the stock is owned by institutional investors.

Cardiol Therapeutics Company Profile

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.