Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Increases By 11,509.2%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,010,000 shares, an increase of 11,509.2% from the March 31st total of 8,700 shares. Based on an average daily volume of 6,220,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 26.7% of the shares of the company are sold short.

Adial Pharmaceuticals Trading Up 2.3 %

NASDAQ:ADIL traded up $0.04 during mid-day trading on Thursday, hitting $1.75. 39,912 shares of the company’s stock traded hands, compared to its average volume of 5,061,149. The firm has a 50 day moving average of $1.69 and a two-hundred day moving average of $1.81. Adial Pharmaceuticals has a 12 month low of $0.77 and a 12 month high of $14.00. The firm has a market capitalization of $7.09 million, a price-to-earnings ratio of -0.30 and a beta of 1.48.

Institutional Trading of Adial Pharmaceuticals

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Armistice Capital LLC bought a new position in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 159,000 shares of the company’s stock, valued at approximately $296,000. Armistice Capital LLC owned approximately 9.58% of Adial Pharmaceuticals at the end of the most recent quarter. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

About Adial Pharmaceuticals

Adial Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment or prevention of addiction and related disorders. Its lead product is AD04, a serotonin-3 antagonist, which is in Phase III clinical trial for the treatment of alcohol use disorder.