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

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 294,400 shares, an increase of 92.5% from the July 15th total of 152,900 shares. Approximately 7.2% of the shares of the stock are sold short. Based on an average daily volume of 2,730,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Adial Pharmaceuticals

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Armistice Capital LLC bought a new stake in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 159,000 shares of the company’s stock, valued at approximately $296,000. Armistice Capital LLC owned about 9.58% of Adial Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. 16.41% of the stock is owned by hedge funds and other institutional investors.

Adial Pharmaceuticals Trading Down 1.0 %

ADIL stock opened at $0.97 on Thursday. The company has a fifty day simple moving average of $1.12 and a two-hundred day simple moving average of $1.40. Adial Pharmaceuticals has a 52 week low of $0.77 and a 52 week high of $4.46.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.17). On average, equities analysts predict that Adial Pharmaceuticals will post -1.66 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.