AdvisorShares Investments LLC Lowers Stock Position in Cardiol Therapeutics Inc. (NASDAQ:CRDL)

AdvisorShares Investments LLC decreased its position in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 24.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 882,488 shares of the company’s stock after selling 288,381 shares during the period. AdvisorShares Investments LLC’s holdings in Cardiol Therapeutics were worth $1,130,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CRDL. Jane Street Group LLC acquired a new position in Cardiol Therapeutics in the 3rd quarter worth about $29,000. Virtu Financial LLC purchased a new stake in shares of Cardiol Therapeutics in the fourth quarter valued at approximately $61,000. Atria Investments Inc acquired a new position in shares of Cardiol Therapeutics during the 4th quarter worth approximately $174,000. Tejara Capital Ltd lifted its position in shares of Cardiol Therapeutics by 75.9% during the 4th quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company’s stock valued at $3,988,000 after buying an additional 1,344,167 shares in the last quarter. Finally, Lion Street Advisors LLC grew its stake in Cardiol Therapeutics by 12.6% in the 4th quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock valued at $396,000 after acquiring an additional 34,385 shares during the period. Institutional investors and hedge funds own 12.49% of the company’s stock.

Cardiol Therapeutics Stock Performance

Shares of Cardiol Therapeutics stock opened at $1.08 on Tuesday. 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 stock’s 50 day simple moving average is $1.05 and its 200-day simple moving average is $1.35. The stock has a market cap of $89.22 million, a P/E ratio of -2.77 and a beta of 1.00. Cardiol Therapeutics Inc. has a 1-year low of $0.77 and a 1-year high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Analysts predict that Cardiol Therapeutics Inc. will post -0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CRDL shares. Rodman & Renshaw initiated coverage on shares of Cardiol Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $7.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a report on Wednesday, April 16th. Finally, RODMAN&RENSHAW raised Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, January 28th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Cardiol Therapeutics presently has a consensus rating of “Buy” and an average target price of $8.40.

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.