Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Decreases By 31.2%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant decrease in short interest in December. As of December 15th, there was short interest totaling 407,422 shares, a decrease of 31.2% from the November 30th total of 592,267 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average trading volume of 240,762 shares, the days-to-cover ratio is currently 1.7 days. Based on an average trading volume of 240,762 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.6% of the company’s stock are short sold.

Adial Pharmaceuticals Trading Down 2.9%

Adial Pharmaceuticals stock opened at $0.23 on Monday. The firm has a market capitalization of $6.20 million, a price-to-earnings ratio of -0.31 and a beta of 1.11. The firm’s fifty day moving average price is $0.31 and its two-hundred day moving average price is $0.35. Adial Pharmaceuticals has a 1-year low of $0.22 and a 1-year high of $1.30.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its earnings results on Thursday, November 13th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. On average, research analysts forecast that Adial Pharmaceuticals will post -1.53 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Citadel Advisors LLC acquired a new stake in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 143,791 shares of the company’s stock, valued at approximately $51,000. Citadel Advisors LLC owned approximately 0.60% of Adial Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a report on Wednesday, October 8th. Maxim Group raised Adial Pharmaceuticals from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Adial Pharmaceuticals has an average rating of “Hold” and an average price target of $1.50.

About Adial Pharmaceuticals

Adial Pharmaceuticals, Inc, incorporated in Delaware and founded in 2003, is a clinical-stage specialty pharmaceutical company dedicated to the development of treatments for addiction disorders and central nervous system conditions. The company’s mission centers on creating novel modalities designed to enhance patient adherence and clinical outcomes, particularly in areas of high unmet medical need. Adial leverages sustained-release delivery technologies to address the challenges associated with oral medication regimens in addiction therapy.

The company’s lead product candidate, AD04, is a bioerodible subcutaneous implant engineered to deliver naltrexone continuously over a multi-month period for individuals with alcohol dependence.