Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Update

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 549,400 shares, a drop of 19.8% from the February 28th total of 685,300 shares. Based on an average daily volume of 779,000 shares, the short-interest ratio is presently 0.7 days. Approximately 8.5% of the shares of the stock are short sold.

Hedge Funds Weigh In On Adial Pharmaceuticals

Several institutional investors have recently bought and sold shares of ADIL. Renaissance Technologies LLC purchased a new stake in shares of Adial Pharmaceuticals during the 4th quarter valued at about $48,000. Citadel Advisors LLC increased its stake in Adial Pharmaceuticals by 63.8% during the fourth quarter. Citadel Advisors LLC now owns 54,508 shares of the company’s stock worth $55,000 after acquiring an additional 21,238 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Adial Pharmaceuticals by 36.0% during the fourth quarter. Geode Capital Management LLC now owns 61,847 shares of the company’s stock valued at $62,000 after purchasing an additional 16,381 shares during the period. Institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Trading Up 3.4 %

Shares of ADIL stock opened at $0.66 on Wednesday. The stock’s 50-day moving average price is $0.77 and its 200-day moving average price is $0.94. Adial Pharmaceuticals has a 12-month low of $0.61 and a 12-month high of $3.10. The stock has a market capitalization of $4.31 million, a price-to-earnings ratio of -0.20 and a beta of 1.13.

Adial Pharmaceuticals (NASDAQ:ADIL) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.23. As a group, research analysts predict that Adial Pharmaceuticals will post -1.53 EPS for the current fiscal year.

About Adial Pharmaceuticals

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.