FY2022 EPS Estimates for Cardiol Therapeutics Inc. (NASDAQ:CRDL) Lowered by Analyst

Cardiol Therapeutics Inc. (NASDAQ:CRDLGet Rating) – Equities researchers at Cantor Fitzgerald dropped their FY2022 earnings per share (EPS) estimates for shares of Cardiol Therapeutics in a report released on Monday, June 20th. Cantor Fitzgerald analyst C. Duncan now expects that the company will post earnings per share of ($0.63) for the year, down from their prior forecast of ($0.57). The consensus estimate for Cardiol Therapeutics’ current full-year earnings is ($0.31) per share. Cantor Fitzgerald also issued estimates for Cardiol Therapeutics’ FY2023 earnings at ($0.24) EPS.

Separately, Canaccord Genuity Group reduced their target price on Cardiol Therapeutics from $8.00 to $7.00 in a research note on Tuesday, April 19th.

Shares of CRDL stock opened at $1.42 on Wednesday. The firm has a market capitalization of $87.94 million and a price-to-earnings ratio of -2.78. The business has a fifty day moving average of $1.37 and a 200 day moving average of $1.60. Cardiol Therapeutics has a 1 year low of $1.00 and a 1 year high of $4.96.

Cardiol Therapeutics (NASDAQ:CRDLGet Rating) last issued its earnings results on Wednesday, March 23rd. The company reported ($0.09) earnings per share (EPS) for the quarter.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brookstone Capital Management purchased a new position in shares of Cardiol Therapeutics during the 4th quarter valued at about $27,000. Private Ocean LLC raised its stake in shares of Cardiol Therapeutics by 275.5% during the 4th quarter. Private Ocean LLC now owns 20,651 shares of the company’s stock valued at $38,000 after buying an additional 15,151 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Cardiol Therapeutics by 66.2% during the 1st quarter. Royal Bank of Canada now owns 35,214 shares of the company’s stock valued at $54,000 after buying an additional 14,020 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Cardiol Therapeutics by 2,240.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 113,058 shares of the company’s stock valued at $173,000 after buying an additional 108,228 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its stake in shares of Cardiol Therapeutics by 139.6% during the 1st quarter. Vident Investment Advisory LLC now owns 126,157 shares of the company’s stock valued at $195,000 after buying an additional 73,512 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

About Cardiol Therapeutics (Get Rating)

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 cardiovascular disease (CVD). Its lead product is CardiolRx, which is in Phase II/III multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx as a cardioprotective therapy to reduce cardiovascular and respiratory events in patients hospitalized with COVID-19, as well as to evaluate the efficacy and safety of CardiolRx in acute myocarditis.

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