Cardiol Therapeutics (NASDAQ:CRDL) Upgraded to Strong-Buy at RODMAN&RENSHAW

Cardiol Therapeutics (NASDAQ:CRDL) was upgraded by stock analysts at RODMAN&RENSHAW to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research analysts have also recently commented on CRDL. Rodman & Renshaw initiated coverage on shares of Cardiol Therapeutics in a report on Tuesday. They set a “buy” rating and a $7.00 target price for the company. HC Wainwright restated a “buy” rating and set a $9.00 price objective 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Cardiol Therapeutics presently has an average rating of “Buy” and a consensus price target of $8.40.

Cardiol Therapeutics Trading Up 1.6 %

NASDAQ:CRDL opened at $1.31 on Tuesday. The company has a market cap of $108.22 million, a P/E ratio of -3.36 and a beta of 0.89. Cardiol Therapeutics has a twelve month low of $0.96 and a twelve month high of $3.12. The business has a 50 day moving average price of $1.38 and a two-hundred day moving average price of $1.79. 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

Large investors have recently added to or reduced their stakes in the company. Townsquare Capital LLC acquired a new position in shares of Cardiol Therapeutics during the 3rd quarter worth about $27,000. Wealth Enhancement Advisory Services LLC bought a new position in Cardiol Therapeutics during the third quarter worth about $27,000. Jane Street Group LLC acquired a new position in Cardiol Therapeutics during the third quarter worth approximately $29,000. Foundations Investment Advisors LLC raised its stake in Cardiol Therapeutics by 237.4% in the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock valued at $321,000 after buying an additional 113,950 shares during the period. Finally, Lion Street Advisors LLC lifted its position in shares of Cardiol Therapeutics by 12.6% in the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock valued at $396,000 after buying an additional 34,385 shares during the last quarter. Institutional investors and hedge funds 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.