Tejara Capital Ltd Buys 1,344,167 Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL)

Tejara Capital Ltd increased its stake in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 75.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,115,437 shares of the company’s stock after buying an additional 1,344,167 shares during the period. Cardiol Therapeutics accounts for about 2.6% of Tejara Capital Ltd’s portfolio, making the stock its 14th largest holding. Tejara Capital Ltd owned 3.77% of Cardiol Therapeutics worth $3,988,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Townsquare Capital LLC bought a new stake in shares of Cardiol Therapeutics during the 3rd quarter worth about $27,000. Jane Street Group LLC bought a new stake in Cardiol Therapeutics in the 3rd quarter valued at about $29,000. Jones Financial Companies Lllp bought a new stake in Cardiol Therapeutics in the 4th quarter valued at about $25,000. Atria Investments Inc bought a new stake in Cardiol Therapeutics in the 4th quarter valued at about $174,000. Finally, Lion Street Advisors LLC boosted its holdings 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 purchasing an additional 34,385 shares during the period. Institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Stock Performance

Shares of Cardiol Therapeutics stock opened at $1.17 on Tuesday. The company has a 50 day moving average of $1.25 and a 200-day moving average of $1.59. Cardiol Therapeutics Inc. has a 1-year low of $1.02 and a 1-year high of $3.12. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01. The company has a market cap of $96.65 million, a PE ratio of -3.00 and a beta of 0.95.

Analysts Set New Price Targets

CRDL has been the subject of a number of recent research reports. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, January 28th. Rodman & Renshaw initiated coverage on shares of Cardiol Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a report on Monday, February 24th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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.