Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Update
by Mitch Edgeman · The Markets DailyAdial Pharmaceuticals, Inc. (NASDAQ:ADIL – Get Free Report) saw a large growth in short interest in 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. Based on an average daily volume of 246,997 shares, the short-interest ratio is presently 0.3 days. Currently, 5.7% of the shares of the stock are sold short.
Adial Pharmaceuticals Stock Down 1.7%
NASDAQ:ADIL traded down $0.03 during mid-day trading on Friday, reaching $1.69. 11,340 shares of the company were exchanged, compared to its average volume of 81,378. The stock has a market cap of $2.41 million, a PE ratio of -0.09 and a beta of 1.31. Adial Pharmaceuticals has a 12 month low of $1.54 and a 12 month high of $30.25. The company has a fifty day moving average of $3.17 and a 200 day moving average of $6.27.
Institutional Trading of Adial Pharmaceuticals
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Armistice Capital LLC acquired a new position in Adial Pharmaceuticals during the 4th quarter worth $562,000. Citadel Advisors LLC acquired a new position in shares of Adial Pharmaceuticals during the third quarter valued at $51,000. Finally, Jane Street Group LLC boosted 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 valued at $27,000 after acquiring an additional 109,500 shares during the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on ADIL shares. Weiss Ratings restated 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 Adial Pharmaceuticals in a research report on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.75.
View Our Latest Stock Analysis on Adial Pharmaceuticals
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.