Cardiol Therapeutics (NASDAQ:CRDL) Posts Earnings Results, Beats Expectations By $0.04 EPS

Cardiol Therapeutics (NASDAQ:CRDL) released its earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04, Zacks reports.

Cardiol Therapeutics Trading Up 1.5%

Shares of CRDL stock traded up $0.02 on Wednesday, reaching $1.37. 443,039 shares of the stock were exchanged, compared to its average volume of 529,635. The stock has a market cap of $153.08 million, a P/E ratio of -4.59 and a beta of 1.02. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $1.03 and a two-hundred day moving average of $1.04. Cardiol Therapeutics has a 1-year low of $0.77 and a 1-year high of $1.59.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. raised Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 3rd. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a report on Tuesday, February 10th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.00.

Institutional Investors Weigh In On Cardiol Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Security National Bank of Sioux City Iowa IA acquired a new stake in Cardiol Therapeutics during the fourth quarter worth about $31,000. Simplex Trading LLC lifted its stake in shares of Cardiol Therapeutics by 96.9% in the 4th quarter. Simplex Trading LLC now owns 32,197 shares of the company’s stock valued at $31,000 after purchasing an additional 15,842 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Cardiol Therapeutics by 136.2% during 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 during the period. Susquehanna International Group LLP grew its holdings in shares of Cardiol Therapeutics by 366.5% during the 3rd 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 during the period. Finally, Virtu Financial LLC acquired a new stake in Cardiol Therapeutics during the 3rd quarter worth approximately $154,000. Hedge funds and other institutional investors own 12.49% of the company’s stock.

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.