Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Sees Large Drop in Short Interest

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 27,868 shares, a drop of 17.2% from the February 12th total of 33,643 shares. Based on an average trading volume of 52,717 shares, the short-interest ratio is currently 0.5 days. Approximately 2.0% of the company’s shares are sold short. Approximately 2.0% of the company’s shares are sold short. Based on an average trading volume of 52,717 shares, the short-interest ratio is currently 0.5 days.

Adial Pharmaceuticals Price Performance

NASDAQ ADIL opened at $1.85 on Tuesday. Adial Pharmaceuticals has a 1-year low of $1.54 and a 1-year high of $30.25. The firm has a market capitalization of $2.65 million, a P/E ratio of -0.10 and a beta of 1.32. The business’s 50-day simple moving average is $3.82 and its 200-day simple moving average is $6.64.

Wall Street Analyst Weigh In

Several equities analysts recently 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 target on shares of Adial Pharmaceuticals in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.75.

Institutional Investors Weigh In On Adial Pharmaceuticals

Several large investors have recently made changes to their positions in ADIL. Jane Street Group LLC raised its stake in shares of Adial Pharmaceuticals by 887.3% in the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock valued at $27,000 after acquiring an additional 109,500 shares during the period. Citadel Advisors LLC purchased a new stake in Adial Pharmaceuticals during the 3rd quarter worth $51,000. Finally, Armistice Capital LLC acquired a new stake in Adial Pharmaceuticals in the 4th quarter valued at $562,000. Institutional investors and hedge funds own 16.41% of the company’s stock.

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.