Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 1,270,000 shares, an increase of 12.4% from the November 30th total of 1,130,000 shares. Approximately 1.6% of the company's shares are short sold. Based on an average daily trading volume, of 483,200 shares, the days-to-cover ratio is presently 2.6 days.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Townsquare Capital LLC purchased a new position in Cardiol Therapeutics during the 3rd quarter worth approximately $27,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Cardiol Therapeutics during the third quarter worth approximately $27,000. Jane Street Group LLC acquired a new position in shares of Cardiol Therapeutics in the 3rd quarter valued at $29,000. Foundations Investment Advisors LLC purchased a new stake in Cardiol Therapeutics in the 2nd quarter valued at $97,000. Finally, Lion Street Advisors LLC boosted its stake in Cardiol Therapeutics by 7.9% during the 3rd quarter. Lion Street Advisors LLC now owns 273,281 shares of the company's stock worth $544,000 after purchasing an additional 20,000 shares during the period. Institutional investors and hedge funds own 12.49% of the company's stock.
NASDAQ:CRDL remained flat at $1.28 during midday trading on Wednesday. 244,131 shares of the company traded hands, compared to its average volume of 417,328. 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 has a 12-month low of $0.82 and a 12-month high of $3.12. The firm has a market capitalization of $104.58 million, a P/E ratio of -3.28 and a beta of 0.83. The stock has a fifty day moving average of $1.59 and a two-hundred day moving average of $1.88.
Separately, HC Wainwright reissued a "buy" rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $8.75.
View Our Latest Research Report on Cardiol Therapeutics
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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