Cardiol Therapeutics (NASDAQ:CRDL) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Cardiol Therapeutics (NASDAQ:CRDL) from a hold rating to a sell rating in a report published on Saturday morning.

CRDL has been the subject of several other reports. raised Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 3rd. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a research report on Tuesday, February 10th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $8.00 price target on shares of Cardiol Therapeutics in a research report on Monday, April 6th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.50.

Cardiol Therapeutics Trading Down 3.6%

CRDL opened at $1.32 on Friday. The firm has a market cap of $147.60 million, a price-to-earnings ratio of -4.71 and a beta of 0.77. Cardiol Therapeutics has a 12 month low of $0.88 and a 12 month high of $1.71. The stock has a fifty day moving average price of $1.26 and a 200-day moving average price of $1.11.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). On average, equities research analysts forecast that Cardiol Therapeutics will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRDL. Tejara Capital Ltd grew its stake in Cardiol Therapeutics by 95.1% during the 4th quarter. Tejara Capital Ltd now owns 5,130,122 shares of the company’s stock worth $4,893,000 after buying an additional 2,500,000 shares during the last quarter. Bank of America Corp DE grew its stake in Cardiol Therapeutics by 1,983.0% during the 3rd 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 during the last quarter. Integrity Alliance LLC. purchased a new position in Cardiol Therapeutics during the 4th quarter worth $416,000. Citadel Advisors LLC grew its stake in Cardiol Therapeutics by 1,132.6% during the 3rd quarter. Citadel Advisors LLC now owns 463,462 shares of the company’s stock worth $496,000 after buying an additional 425,862 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in Cardiol Therapeutics during the 3rd quarter worth $249,000. 12.49% of the stock is currently owned by hedge funds and other institutional investors.

About Cardiol Therapeutics

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.