Cardiol Therapeutics Inc. (NASDAQ:CRDL) Short Interest Update

Cardiol Therapeutics Inc. (NASDAQ:CRDL) was the recipient of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 273,000 shares, a decrease of 24.4% from the February 29th total of 361,100 shares. Based on an average daily volume of 363,100 shares, the short-interest ratio is currently 0.8 days. Currently, 0.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE acquired a new position in shares of Cardiol Therapeutics during the 1st quarter worth about $29,000. FNY Investment Advisers LLC acquired a new position in shares of Cardiol Therapeutics during the 3rd quarter worth about $30,000. Jane Street Group LLC acquired a new position in shares of Cardiol Therapeutics during the 4th quarter worth about $32,000. Advisor Group Holdings Inc. raised its position in shares of Cardiol Therapeutics by 227.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 74,710 shares of the company’s stock worth $38,000 after purchasing an additional 51,870 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in Cardiol Therapeutics during the 1st quarter valued at about $52,000. Institutional investors and hedge funds own 12.49% of the company’s stock.

Cardiol Therapeutics Stock Performance

Shares of CRDL traded up $0.01 during mid-day trading on Friday, hitting $1.81. 230,849 shares of the company were exchanged, compared to its average volume of 376,242. Cardiol Therapeutics has a 1-year low of $0.45 and a 1-year high of $2.17. The company has a 50 day moving average of $1.45 and a 200-day moving average of $1.08. The stock has a market cap of $123.39 million, a price-to-earnings ratio of -5.48 and a beta of 1.00.

Cardiol Therapeutics Company Profile

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 CardiolRx, which is in Phase II/III multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx for patients hospitalized with COVID-19, as well as for the treatment of recurrent pericarditis and acute myocarditis.