Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Grows By 634.0%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 347,148 shares, a growth of 634.0% from the May 31st total of 47,293 shares. Based on an average trading volume of 1,988,864 shares, the days-to-cover ratio is currently 0.2 days. Currently, 16.5% of the company’s stock are sold short.

Hedge Funds Weigh In On Adial Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Armistice Capital LLC acquired a new stake in Adial Pharmaceuticals in the fourth quarter valued at $562,000. Citadel Advisors LLC purchased a new stake in Adial Pharmaceuticals during the 3rd quarter worth about $51,000. Finally, Jane Street Group LLC boosted its position 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 worth $27,000 after acquiring an additional 109,500 shares in the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

Adial Pharmaceuticals Stock Up 4.0%

Shares of Adial Pharmaceuticals stock opened at $2.58 on Friday. Adial Pharmaceuticals has a 52-week low of $1.31 and a 52-week high of $18.90. The company has a 50 day moving average of $2.04 and a 200 day moving average of $3.27. The company has a market capitalization of $5.52 million, a P/E ratio of -0.32 and a beta of 1.46.

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

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.