Adial Pharmaceuticals (NASDAQ:ADIL) Issues Earnings Results

Adial Pharmaceuticals (NASDAQ:ADIL) posted its quarterly earnings data on Thursday. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.60), FiscalAI reports.

Adial Pharmaceuticals Price Performance

ADIL stock traded down $0.02 on Thursday, reaching $1.97. The company’s stock had a trading volume of 143,346 shares, compared to its average volume of 86,412. Adial Pharmaceuticals has a 52 week low of $1.88 and a 52 week high of $30.25. The firm has a fifty day moving average of $4.45 and a two-hundred day moving average of $7.09. The company has a market capitalization of $2.19 million, a P/E ratio of -0.11 and a beta of 1.31.

Institutional Trading of Adial Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC acquired a new position in Adial Pharmaceuticals in the third quarter worth approximately $51,000. Jane Street Group LLC grew its holdings in shares of Adial Pharmaceuticals by 887.3% in 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 during the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Adial Pharmaceuticals in the 4th quarter worth $562,000. 16.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adial Pharmaceuticals in a report on Wednesday, January 21st. UBS Group set a $8.00 price target on shares of Adial Pharmaceuticals in a research report on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.75.

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.