Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Expands By 919.9%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 3,480,000 shares, anincreaseof919.9% from the July 15th total of 341,200 shares. Based on an average daily volume of 8,710,000 shares, the days-to-cover ratio is presently 0.4 days. Approximately16.8% of the company’s shares are sold short. Approximately16.8% of the company’s shares are sold short. Based on an average daily volume of 8,710,000 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Adial Pharmaceuticals to a “sell” rating in a report on Saturday, July 26th.

Adial Pharmaceuticals Stock Performance

Adial Pharmaceuticals stock opened at $0.39 on Friday. Adial Pharmaceuticals has a 52-week low of $0.22 and a 52-week high of $1.30. The firm has a 50 day moving average price of $0.40 and a two-hundred day moving average price of $0.61. The firm has a market cap of $8.53 million, a price-to-earnings ratio of -0.38 and a beta of 1.00.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. As a group, equities research analysts predict that Adial Pharmaceuticals will post -1.53 EPS for the current fiscal year.

Institutional Trading of Adial Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of Adial Pharmaceuticals by 36.0% in the 4th quarter. Geode Capital Management LLC now owns 61,847 shares of the company’s stock valued at $62,000 after acquiring an additional 16,381 shares in the last quarter. Citadel Advisors LLC grew its position in Adial Pharmaceuticals by 63.8% in the 4th quarter. Citadel Advisors LLC now owns 54,508 shares of the company’s stock valued at $55,000 after purchasing an additional 21,238 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Adial Pharmaceuticals in the 4th quarter valued at $48,000. Institutional investors own 16.41% of the company’s stock.

About Adial Pharmaceuticals

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.