Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Down 17.2% in February

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw 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. Currently, 2.0% of the shares of the company are sold short. Based on an average daily volume of 52,717 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily volume of 52,717 shares, the days-to-cover ratio is presently 0.5 days. Currently, 2.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ADIL shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Wednesday, January 21st. UBS Group set a $8.00 target price on Adial Pharmaceuticals in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.75.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ADIL. Citadel Advisors LLC bought a new position in Adial Pharmaceuticals in the third quarter worth $51,000. Jane Street Group LLC increased its holdings in 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 buying an additional 109,500 shares during the period. Finally, Armistice Capital LLC acquired a new position in shares of Adial Pharmaceuticals in the 4th quarter valued at $562,000. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Adial Pharmaceuticals Price Performance

NASDAQ ADIL opened at $1.96 on Monday. The company’s fifty day moving average is $3.91 and its two-hundred day moving average is $6.70. Adial Pharmaceuticals has a 52-week low of $1.54 and a 52-week high of $30.25. The firm has a market capitalization of $2.80 million, a price-to-earnings ratio of -0.10 and a beta of 1.32.

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.