Cardiol Therapeutics (NASDAQ:CRDL) Releases Quarterly Earnings Results, Hits Expectations

Cardiol Therapeutics (NASDAQ:CRDL) released its quarterly earnings data on Monday. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07), Zacks reports.

Cardiol Therapeutics Trading Up 1.1%

Cardiol Therapeutics stock traded up $0.02 during trading on Monday, hitting $1.34. 371,117 shares of the company were exchanged, compared to its average volume of 577,583. The business’s 50 day moving average is $1.24 and its 200 day moving average is $1.10. Cardiol Therapeutics has a 52 week low of $0.88 and a 52 week high of $1.71. The company has a market capitalization of $149.28 million, a P/E ratio of -4.77 and a beta of 0.77.

Analyst Ratings Changes

Several equities research analysts have recently commented on CRDL shares. Wall Street Zen upgraded Cardiol Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, April 5th. upgraded Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a report on Tuesday, February 10th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $8.00 price objective on shares of Cardiol Therapeutics in a report on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.50.

Institutional Investors Weigh In On Cardiol Therapeutics

Institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC grew its holdings in Cardiol Therapeutics by 1,132.6% during the third quarter. Citadel Advisors LLC now owns 463,462 shares of the company’s stock worth $496,000 after buying an additional 425,862 shares in the last quarter. Bank of America Corp DE grew its holdings in Cardiol Therapeutics by 1,983.0% during the third quarter. Bank of America Corp DE now owns 551,053 shares of the company’s stock worth $590,000 after buying an additional 524,598 shares in the last quarter. Two Sigma Investments LP bought a new stake in Cardiol Therapeutics during the third quarter worth $249,000. Virtu Financial LLC bought a new stake in Cardiol Therapeutics during the third quarter worth $154,000. Finally, Susquehanna International Group LLP grew its holdings in Cardiol Therapeutics by 366.5% during the third quarter. Susquehanna International Group LLP now owns 93,398 shares of the company’s stock worth $100,000 after buying an additional 73,375 shares in the last quarter. Institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc (NASDAQ: CRDL) is a clinical-stage pharmaceutical company dedicated to developing immunomodulatory treatments for patients with cardiovascular disease. The company’s lead asset, CardiolRx, is a proprietary, pharmaceutical-grade cannabidiol (CBD) formulation designed to target the inflammation and oxidative stress underlying conditions such as acute myocardial injury and heart failure. Cardiol holds exclusive global rights to CardiolRx through a licensing partnership and is advancing additional preclinical programs focused on small-molecule immunotherapies for heart disease.

CardiolRx is formulated for oral administration and has been evaluated in a randomized, placebo-controlled Phase 2 myocardial protection study assessing safety and key biomarkers following acute coronary syndromes.