Cardiol Therapeutics Inc. (NASDAQ:CRDL – Get Free Report) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,870,000 shares, a growth of 26.4% from the February 13th total of 1,480,000 shares. Based on an average daily volume of 299,700 shares, the short-interest ratio is presently 6.2 days. Approximately 2.4% of the shares of the company are sold short.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on CRDL shares. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, January 28th. Rodman & Renshaw assumed coverage on Cardiol Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $7.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a report on Monday, February 24th. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $8.40.
View Our Latest Stock Analysis on CRDL
Institutional Inflows and Outflows
Cardiol Therapeutics Trading Up 3.1 %
Shares of NASDAQ CRDL traded up $0.04 during mid-day trading on Monday, hitting $1.17. 105,473 shares of the company traded hands, compared to its average volume of 389,992. The business has a 50 day moving average of $1.25 and a two-hundred day moving average of $1.59. The stock has a market capitalization of $96.24 million, a price-to-earnings ratio of -2.99 and a beta of 0.95. Cardiol Therapeutics has a 1 year low of $1.02 and a 1 year high of $3.12. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01.
Cardiol Therapeutics Company Profile
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.
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