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

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC acquired a new position in Adial Pharmaceuticals during the 3rd quarter worth approximately $51,000. Jane Street Group LLC grew its position 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 in the last quarter. Finally, Armistice Capital LLC purchased a new stake in shares of Adial Pharmaceuticals during the fourth quarter valued at approximately $562,000. 16.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADIL has been the topic of several recent analyst reports. UBS Group set a $8.00 price objective on shares of Adial Pharmaceuticals in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.75.

Adial Pharmaceuticals Price Performance

Shares of Adial Pharmaceuticals stock remained flat at $2.44 during trading hours on Wednesday. The stock had a trading volume of 60,219 shares, compared to its average volume of 39,021. The firm has a market capitalization of $2.71 million, a price-to-earnings ratio of -0.13 and a beta of 1.26. Adial Pharmaceuticals has a 52 week low of $2.27 and a 52 week high of $30.25. The business’s 50-day simple moving average is $4.91 and its 200 day simple moving average is $7.38.

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.