Cardiol Therapeutics (NASDAQ:CRDL) Coverage Initiated by Analysts at Rodman & Renshaw

Stock analysts at Rodman & Renshaw started coverage on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. Rodman & Renshaw’s price target suggests a potential upside of 434.35% from the stock’s current price.

Separately, HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a research note on Wednesday, December 18th. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Cardiol Therapeutics presently has a consensus rating of “Buy” and an average target price of $8.40.

Cardiol Therapeutics Stock Performance

Shares of CRDL opened at $1.31 on Tuesday. 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 business’s 50 day moving average is $1.38 and its two-hundred day moving average is $1.79. The firm has a market cap of $108.22 million, a price-to-earnings ratio of -3.36 and a beta of 0.89. Cardiol Therapeutics has a 52-week low of $0.96 and a 52-week high of $3.12.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Cardiol Therapeutics in the 3rd quarter valued at about $27,000. Townsquare Capital LLC acquired a new position in Cardiol Therapeutics in the 3rd quarter valued at approximately $27,000. Jane Street Group LLC purchased a new stake in Cardiol Therapeutics in the 3rd quarter worth approximately $29,000. Lion Street Advisors LLC lifted its position in Cardiol Therapeutics by 7.9% in the 3rd quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock worth $544,000 after buying an additional 20,000 shares in the last quarter. Finally, Foundations Investment Advisors LLC grew its holdings in shares of Cardiol Therapeutics by 237.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock valued at $321,000 after acquiring an additional 113,950 shares in the last quarter. Hedge funds and other institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Company Profile

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.