Cardiol Therapeutics Inc. (NASDAQ:CRDL) Short Interest Up 26.4% in February

Cardiol Therapeutics Inc. (NASDAQ:CRDL) was the recipient of a significant growth in short interest in 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. Approximately 2.4% of the company’s stock are short sold. Based on an average daily volume of 299,700 shares, the short-interest ratio is currently 6.2 days.

Institutional Investors Weigh In On Cardiol Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in shares of Cardiol Therapeutics during the 3rd quarter worth about $29,000. Townsquare Capital LLC bought a new position in Cardiol Therapeutics in the 3rd quarter worth approximately $27,000. Lion Street Advisors LLC lifted its holdings in shares of Cardiol Therapeutics by 12.6% during the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after buying an additional 34,385 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Cardiol Therapeutics in the fourth quarter valued at approximately $56,000. Finally, PVG Asset Management Corp acquired a new stake in shares of Cardiol Therapeutics in the fourth quarter worth $624,000. 12.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRDL has been the subject of a number of research reports. Rodman & Renshaw assumed coverage on shares of Cardiol Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $7.00 target price for the company. RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $8.40.

Cardiol Therapeutics Stock Performance

Shares of NASDAQ CRDL traded up $0.04 during trading hours on Monday, hitting $1.17. 105,473 shares of the stock were exchanged, compared to its average volume of 389,992. Cardiol Therapeutics has a one year low of $1.02 and a one year high of $3.12. The company’s 50 day moving average is $1.25 and its 200 day moving average is $1.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49. The firm has a market capitalization of $96.24 million, a P/E ratio of -2.99 and a beta of 0.95.

About 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.