Adial Pharmaceuticals (NASDAQ:ADIL) Major Shareholder Coastlands Capital Lp Purchases 10,053 Shares of Stock

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) major shareholder Coastlands Capital Lp purchased 10,053 shares of Adial Pharmaceuticals stock in a transaction that occurred on Thursday, July 9th. The stock was acquired at an average price of $2.79 per share, with a total value of $28,047.87. Following the transaction, the insider owned 383,375 shares in the company, valued at $1,069,616.25. The trade was a 2.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Coastlands Capital Lp also recently made the following trade(s):

• On Friday, July 10th, Coastlands Capital Lp purchased 1,700 shares of Adial Pharmaceuticals stock. The shares were acquired at an average price of $2.70 per share, with a total value of $4,590.00.
• On Monday, June 29th, Coastlands Capital Lp acquired 25,000 shares of Adial Pharmaceuticals stock. The shares were acquired at an average cost of $2.60 per share, for a total transaction of $65,000.00.

Adial Pharmaceuticals Stock Performance

NASDAQ ADIL opened at $2.83 on Tuesday. The firm has a market cap of $6.06 million, a PE ratio of -0.35 and a beta of 1.43. Adial Pharmaceuticals, Inc. has a one year low of $1.31 and a one year high of $18.90. The firm’s fifty day moving average is $2.33 and its two-hundred day moving average is $2.92.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its earnings results on Friday, May 8th. The company reported ($1.48) EPS for the quarter, beating analysts’ consensus estimates of ($2.73) by $1.25.

Hedge Funds Weigh In On Adial Pharmaceuticals

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

Analyst Ratings Changes

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

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.