Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Sees Large Growth in Short Interest

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 175,000 shares, an increase of 121.8% from the October 31st total of 78,900 shares. Based on an average daily trading volume, of 142,300 shares, the days-to-cover ratio is presently 1.2 days. Approximately 2.8% of the shares of the company are sold short.

Hedge Funds Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC acquired a new position in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned 0.48% of Adial Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Stock Down 0.9 %

Shares of NASDAQ ADIL opened at $0.99 on Thursday. Adial Pharmaceuticals has a one year low of $0.77 and a one year high of $4.17. The stock’s fifty day moving average price is $1.02 and its two-hundred day moving average price is $1.10.

Analyst Upgrades and Downgrades

ADIL has been the subject of several research analyst reports. RODMAN&RENSHAW raised shares of Adial Pharmaceuticals to a “strong-buy” rating in a report on Thursday, November 14th. Rodman & Renshaw began coverage on Adial Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $8.00 price objective for the company.

Adial Pharmaceuticals Company Profile

Adial Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment or prevention of addiction and related disorders. Its lead product is AD04, a serotonin-3 antagonist, which is in Phase III clinical trial for the treatment of alcohol use disorder.