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

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

Institutional Trading of Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 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 reporting period. Institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Trading Up 2.3 %

ADIL stock traded up $0.04 during mid-day trading on Thursday, hitting $1.75. The stock had a trading volume of 39,912 shares, compared to its average volume of 5,061,149. Adial Pharmaceuticals has a 1-year low of $0.77 and a 1-year high of $14.00. The company has a fifty day moving average of $1.69 and a 200 day moving average of $1.81. The stock has a market capitalization of $7.09 million, a price-to-earnings ratio of -0.30 and a beta of 1.48.

Adial Pharmaceuticals Company Profile

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.