Cardiol Therapeutics (TSE:CRDL) Trading Down 1.5% – Here’s Why

Cardiol Therapeutics Inc. (TSE:CRDL) fell 1.5% during mid-day trading on Friday . The stock traded as low as C$1.23 and last traded at C$1.29. 517,937 shares were traded during trading, an increase of 497% from the average session volume of 86,767 shares. The stock had previously closed at C$1.31.

Cardiol Therapeutics Stock Down 1.5%

The company has a debt-to-equity ratio of 1.40, a quick ratio of 6.84 and a current ratio of 3.89. The stock has a market cap of C$144.07 million, a price-to-earnings ratio of -3.15 and a beta of 0.94. The firm’s 50-day simple moving average is C$1.39 and its two-hundred day simple moving average is C$1.44.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc (NASDAQ: CRDL) (TSX: CRDL) is a clinical-stage life sciences company focused on the research and clinical development of anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. The Company’s lead drug candidate, CardiolRxTM (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with myocarditis, pericarditis, and heart failure.