Adial Pharmaceuticals (NASDAQ:ADIL) Trading Down 3.9% – Here’s What Happened

Shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) dropped 3.9% during mid-day trading on Tuesday . The company traded as low as $0.2146 and last traded at $0.2163. Approximately 535,052 shares were traded during mid-day trading, an increase of 76% from the average daily volume of 303,396 shares. The stock had previously closed at $0.2250.

Analyst Ratings Changes

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

Adial Pharmaceuticals Price Performance

The company has a 50-day moving average of $0.27 and a two-hundred day moving average of $0.34. The stock has a market capitalization of $6.01 million, a PE ratio of -0.29 and a beta of 1.19.

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

Hedge Funds Weigh In On Adial Pharmaceuticals

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Citadel Advisors LLC bought a new stake in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 143,791 shares of the company’s stock, valued at approximately $51,000. Citadel Advisors LLC owned about 0.60% of Adial Pharmaceuticals at the end of the most recent quarter. 16.41% of the stock is owned by institutional investors.

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.