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

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a large growth in short interest in 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. Approximately 5.7% of the company’s stock are short sold. Based on an average daily volume of 246,997 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 246,997 shares, the short-interest ratio is currently 0.3 days. Approximately 5.7% of the company’s stock are short sold.

Adial Pharmaceuticals Price Performance

Shares of NASDAQ ADIL opened at $1.69 on Wednesday. Adial Pharmaceuticals has a one year low of $1.54 and a one year high of $30.25. The business’s 50-day moving average price is $3.33 and its two-hundred day moving average price is $6.33. The company has a market capitalization of $2.42 million, a P/E ratio of -0.09 and a beta of 1.31.

Institutional Investors Weigh In On Adial Pharmaceuticals

Large investors have recently made changes to their positions in the company. Jane Street Group LLC increased its holdings in Adial Pharmaceuticals by 887.3% in the fourth quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after buying an additional 109,500 shares during the last quarter. Citadel Advisors LLC bought a new position in Adial Pharmaceuticals during the third quarter valued at approximately $51,000. Finally, Armistice Capital LLC acquired a new stake in Adial Pharmaceuticals in the fourth quarter valued at approximately $562,000. Institutional investors own 16.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings restated 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 shares of Adial Pharmaceuticals in a research note 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.75.

Adial Pharmaceuticals Company Profile

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.