HC Wainwright Has Bullish Forecast for CRDL FY2024 Earnings

Cardiol Therapeutics Inc. (NASDAQ:CRDL) – Investment analysts at HC Wainwright lifted their FY2024 earnings estimates for Cardiol Therapeutics in a report issued on Wednesday, December 18th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings of ($0.37) per share for the year, up from their previous estimate of ($0.38). HC Wainwright has a “Buy” rating and a $9.00 price target 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 ($0.08) EPS and FY2025 earnings at ($0.33) EPS.

Cardiol Therapeutics Stock Performance

Cardiol Therapeutics stock opened at $1.28 on Friday. The company’s 50-day moving average price is $1.69 and its 200-day moving average price is $1.96. Cardiol Therapeutics has a twelve month low of $0.79 and a twelve month high of $3.12. The company has a market cap of $104.58 million, a PE ratio of -3.28 and a beta of 0.83. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01.

Institutional Trading of Cardiol Therapeutics

A number of institutional investors have recently made changes to their positions in CRDL. Wealth Enhancement Advisory Services LLC purchased a new position in Cardiol Therapeutics in the 3rd quarter valued at $27,000. Townsquare Capital LLC purchased a new position in shares of Cardiol Therapeutics in the third quarter worth about $27,000. Jane Street Group LLC purchased a new position in shares of Cardiol Therapeutics in the third quarter worth about $29,000. Lion Street Advisors LLC boosted its position in Cardiol Therapeutics by 7.9% during the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock worth $544,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Foundations Investment Advisors LLC purchased a new stake in Cardiol Therapeutics during the 2nd quarter valued at about $97,000. 12.49% of the stock is owned by institutional investors and hedge funds.

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.