HC Wainwright Begins Coverage on Cardiol Therapeutics (NASDAQ:CRDL)

HC Wainwright initiated coverage on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report report published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $9.00 price target on the stock. HC Wainwright also issued estimates for Cardiol Therapeutics’ Q1 2024 earnings at ($0.06) EPS, Q2 2024 earnings at ($0.05) EPS, Q3 2024 earnings at ($0.05) EPS, Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.20) EPS, FY2025 earnings at ($0.25) EPS, FY2026 earnings at ($0.34) EPS, FY2027 earnings at ($0.09) EPS and FY2028 earnings at $0.43 EPS.

Cardiol Therapeutics Trading Down 4.3 %

NASDAQ:CRDL opened at $1.76 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.36 and a quick ratio of 4.36. The firm has a 50-day moving average of $1.70 and a 200-day moving average of $1.20. The company has a market cap of $120.17 million, a PE ratio of -5.33 and a beta of 0.95. Cardiol Therapeutics has a one year low of $0.55 and a one year high of $2.17.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its earnings results on Monday, April 1st. The company reported ($0.09) EPS for the quarter. As a group, equities research analysts expect that Cardiol Therapeutics will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardiol Therapeutics

A hedge fund recently raised its stake in Cardiol Therapeutics stock. Tejara Capital Ltd boosted its position in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 29.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 645,457 shares of the company’s stock after purchasing an additional 148,396 shares during the period. Tejara Capital Ltd owned about 1.00% of Cardiol Therapeutics worth $578,000 as of its most recent SEC filing. 12.49% of the stock is owned by hedge funds and other 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 cardiovascular disease (CVD). Its lead product CardiolRx, which is in Phase II/III multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx for patients hospitalized with COVID-19, as well as for the treatment of recurrent pericarditis and acute myocarditis.