Cardiol Therapeutics (NASDAQ:CRDL) Shares Down 1% – Should You Sell?

Cardiol Therapeutics Inc. (NASDAQ:CRDL) dropped 1% during trading on Tuesday . The stock traded as low as $0.9803 and last traded at $1.01. Approximately 380,261 shares traded hands during trading, an increase of 10% from the average daily volume of 346,273 shares. The stock had previously closed at $1.02.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Brookline Capital Acquisition raised shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Cardiol Therapeutics in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Cardiol Therapeutics Stock Performance

The business’s 50-day simple moving average is $1.01 and its two-hundred day simple moving average is $1.05. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.01. The firm has a market cap of $112.86 million, a price-to-earnings ratio of -3.37 and a beta of 1.02.

Institutional Trading of Cardiol Therapeutics

Several institutional investors have recently bought and sold shares of CRDL. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Cardiol Therapeutics in the fourth quarter valued at approximately $31,000. Simplex Trading LLC lifted its position in shares of Cardiol Therapeutics by 96.9% during 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 in the last quarter. Boyer Financial Services Inc. acquired a new stake in Cardiol Therapeutics in the 4th quarter valued at $33,000. Bank of America Corp DE increased its holdings 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 acquiring an additional 15,255 shares in the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new stake in Cardiol Therapeutics in the 2nd quarter worth $39,000. 12.49% of the stock is owned by institutional investors and hedge funds.

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.