HC Wainwright Reaffirms Buy Rating for Cardiol Therapeutics (NASDAQ:CRDL)

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $9.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 445.45% from the stock’s previous close.

Cardiol Therapeutics Price Performance

NASDAQ:CRDL opened at $1.65 on Wednesday. Cardiol Therapeutics has a 52-week low of $0.79 and a 52-week high of $3.12. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. The firm has a market cap of $134.64 million, a P/E ratio of -4.23 and a beta of 0.91. The business’s 50-day moving average price is $1.98 and its 200 day moving average price is $2.09.

Institutional Trading of Cardiol Therapeutics

Large investors have recently added to or reduced their stakes in the business. Lion Street Advisors LLC lifted its position in shares of Cardiol Therapeutics by 31.4% during the 2nd quarter. Lion Street Advisors LLC now owns 253,281 shares of the company’s stock valued at $505,000 after acquiring an additional 60,581 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in Cardiol Therapeutics during the 2nd quarter worth about $59,000. Foundations Investment Advisors LLC acquired a new position in shares of Cardiol Therapeutics in the second quarter worth about $97,000. AdvisorShares Investments LLC increased its position in shares of Cardiol Therapeutics by 12.7% in the second quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock worth $2,934,000 after acquiring an additional 164,994 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Cardiol Therapeutics in the 3rd quarter valued at approximately $27,000. 12.49% of the stock is currently owned by 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.