Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Down 49.4% in April

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 49,013 shares, a decrease of 49.4% from the March 31st total of 96,887 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average daily volume of 89,800 shares, the short-interest ratio is presently 0.5 days.

Adial Pharmaceuticals Stock Up 1.3%

Adial Pharmaceuticals stock opened at $1.58 on Friday. The stock has a market cap of $2.26 million, a P/E ratio of -0.08 and a beta of 1.40. Adial Pharmaceuticals has a twelve month low of $1.51 and a twelve month high of $30.25. The company’s 50-day moving average price is $1.92 and its two-hundred day moving average price is $5.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC grew its position in shares of Adial Pharmaceuticals by 887.3% during the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after purchasing an additional 109,500 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Adial Pharmaceuticals during the 3rd quarter worth approximately $51,000. Finally, Armistice Capital LLC acquired a new stake in shares of Adial Pharmaceuticals during the 4th quarter worth approximately $562,000. Institutional investors and hedge funds own 16.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group set a $8.00 price target on shares of Adial Pharmaceuticals in a research report on Wednesday, February 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Adial Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $22.75.

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.