Cardiol Therapeutics (NASDAQ:CRDL) Issues Earnings Results

by · The Cerbat Gem

Cardiol Therapeutics (NASDAQ:CRDL – Get Free Report) released its quarterly earnings data on Wednesday. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.05, Zacks reports.

Cardiol Therapeutics Price Performance

Shares of Cardiol Therapeutics stock traded up $0.02 during trading hours on Wednesday, reaching $1.52. The company’s stock had a trading volume of 790,711 shares, compared to its average volume of 597,755. The firm has a 50 day moving average price of $1.14 and a 200-day moving average price of $1.17. Cardiol Therapeutics has a one year low of $0.88 and a one year high of $1.71. The stock has a market cap of $176.15 million, a P/E ratio of -5.43 and a beta of 0.72.

Institutional Investors Weigh In On Cardiol Therapeutics

Several institutional investors have recently modified their holdings of CRDL. Bank of America Corp DE increased its stake in Cardiol Therapeutics by 136.2% in the 2nd quarter. Bank of America Corp DE now owns 26,455 shares of the company’s stock worth $36,000 after buying an additional 15,255 shares during the period. Simplex Trading LLC boosted its position in Cardiol Therapeutics by 96.9% in the 4th quarter. Simplex Trading LLC now owns 32,197 shares of the company’s stock valued at $31,000 after buying an additional 15,842 shares during the period. Security National Bank of Sioux City Iowa IA bought a new position in Cardiol Therapeutics in the 4th quarter worth about $31,000. Susquehanna International Group LLP grew its stake in Cardiol Therapeutics by 366.5% in the 3rd quarter. Susquehanna International Group LLP now owns 93,398 shares of the company’s stock worth $100,000 after acquiring an additional 73,375 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Cardiol Therapeutics during the third quarter worth approximately $154,000. 12.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiol Therapeutics in a report on Wednesday, June 24th. HC Wainwright reissued a “buy” rating on shares of Cardiol Therapeutics in a report on Tuesday, July 14th. Finally, Wall Street Zen cut Cardiol Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.50.

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About Cardiol Therapeutics

(Get Free Report)

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.

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