Adial Pharmaceuticals (NASDAQ:ADIL) Major Shareholder Coastlands Capital Lp Purchases 25,000 Shares of Stock

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) major shareholder Coastlands Capital Lp acquired 25,000 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was purchased at an average cost of $2.60 per share, with a total value of $65,000.00. Following the completion of the transaction, the insider owned 373,322 shares in the company, valued at $970,637.20. The trade was a 7.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Adial Pharmaceuticals Stock Performance

Shares of NASDAQ ADIL opened at $2.81 on Thursday. Adial Pharmaceuticals, Inc. has a 1 year low of $1.31 and a 1 year high of $18.90. The stock’s 50-day simple moving average is $2.12 and its 200-day simple moving average is $3.13. The firm has a market cap of $6.01 million, a price-to-earnings ratio of -0.35 and a beta of 1.43.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.73) by $1.25.

Institutional Investors Weigh In On Adial Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC boosted its stake in shares of Adial Pharmaceuticals by 887.3% during 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. Citadel Advisors LLC bought a new position in Adial Pharmaceuticals in the 3rd quarter worth approximately $51,000. Finally, Armistice Capital LLC acquired a new position in shares of Adial Pharmaceuticals during the fourth quarter valued at about $562,000. 16.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Needham & Company LLC cut shares of Adial Pharmaceuticals to a “buy” rating in a report on Monday, June 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adial Pharmaceuticals in a report on Monday, April 20th. Loop Capital set a $6.00 price target on Adial Pharmaceuticals in a research note on Monday, June 15th. Finally, Brookline Capital Markets downgraded shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Adial Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $17.17.

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.