Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Update

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 79,609 shares, a growth of 185.7% from the February 26th total of 27,868 shares. Based on an average daily volume of 246,997 shares, the days-to-cover ratio is currently 0.3 days. Approximately 5.7% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Wednesday, January 21st. UBS Group set a $8.00 price objective on shares of Adial Pharmaceuticals in a research report on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Adial Pharmaceuticals has an average rating of “Hold” and an average price target of $22.75.

Institutional Investors Weigh In On Adial Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Armistice Capital LLC bought a new stake in shares of Adial Pharmaceuticals in the fourth quarter valued at about $562,000. Citadel Advisors LLC acquired a new position in shares of Adial Pharmaceuticals in the third quarter valued at about $51,000. Finally, Jane Street Group LLC increased its position in Adial Pharmaceuticals by 887.3% during the fourth quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after acquiring an additional 109,500 shares during the period. Institutional investors and hedge funds own 16.41% of the company’s stock.

Adial Pharmaceuticals Stock Up 2.4%

Shares of NASDAQ:ADIL opened at $1.73 on Thursday. Adial Pharmaceuticals has a 12-month low of $1.54 and a 12-month high of $30.25. The business has a 50 day moving average of $3.25 and a 200-day moving average of $6.30. The stock has a market cap of $2.47 million, a PE ratio of -0.09 and a beta of 1.31.

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.