Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Decreases By 87.7%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 33,643 shares, a decrease of 87.7% from the January 29th total of 273,317 shares. Approximately 3.1% of the company’s shares are sold short. Based on an average daily trading volume, of 78,805 shares, the short-interest ratio is presently 0.4 days. Based on an average daily trading volume, of 78,805 shares, the short-interest ratio is presently 0.4 days. Approximately 3.1% of the company’s shares are sold short.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Adial Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its stake in Adial Pharmaceuticals by 887.3% during the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock valued at $27,000 after purchasing an additional 109,500 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Adial Pharmaceuticals during the third quarter valued at approximately $51,000. Finally, Armistice Capital LLC bought a new stake in shares of Adial Pharmaceuticals during the fourth quarter valued at approximately $562,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Stock Performance

Adial Pharmaceuticals stock opened at $2.44 on Thursday. Adial Pharmaceuticals has a fifty-two week low of $2.27 and a fifty-two week high of $30.25. The stock’s 50 day simple moving average is $4.83 and its two-hundred day simple moving average is $7.35. The stock has a market cap of $2.71 million, a price-to-earnings ratio of -0.13 and a beta of 1.26.

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.