Q3 EPS Estimate for Cardiol Therapeutics Cut by Analyst

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Equities research analysts at HC Wainwright reduced their Q3 2024 earnings per share (EPS) estimates for Cardiol Therapeutics in a report issued on Thursday, October 24th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings per share of ($0.11) for the quarter, down from their previous forecast of ($0.09). HC Wainwright currently has a “Buy” rating and a $9.00 target price on the stock. The consensus estimate for Cardiol Therapeutics’ current full-year earnings is ($0.33) per share. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q4 2024 earnings at ($0.10) EPS, FY2024 earnings at ($0.44) EPS and FY2025 earnings at ($0.46) EPS.

Cardiol Therapeutics Price Performance

Shares of CRDL opened at $1.83 on Monday. Cardiol Therapeutics has a twelve month low of $0.72 and a twelve month high of $3.12. The company has a market capitalization of $126.27 million, a P/E ratio of -5.23 and a beta of 0.89. The firm has a 50 day moving average of $2.01 and a 200 day moving average of $2.08. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.01.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CRDL. Wealth Enhancement Advisory Services LLC bought a new stake in Cardiol Therapeutics in the 3rd quarter worth about $27,000. Baader Bank Aktiengesellschaft bought a new stake in shares of Cardiol Therapeutics in the second quarter worth approximately $59,000. Foundations Investment Advisors LLC purchased a new position in shares of Cardiol Therapeutics during the second quarter valued at approximately $97,000. Lion Street Advisors LLC lifted its position in Cardiol Therapeutics by 31.4% during the second quarter. Lion Street Advisors LLC now owns 253,281 shares of the company’s stock valued at $505,000 after purchasing an additional 60,581 shares during the period. Finally, AdvisorShares Investments LLC boosted its holdings in 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 purchasing an additional 164,994 shares during the last quarter. Hedge funds and other institutional investors 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 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.