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

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 347,148 shares, a growth of 634.0% from the May 31st total of 47,293 shares. Approximately 16.5% of the company’s stock are short sold. Based on an average daily trading volume, of 1,988,864 shares, the days-to-cover ratio is presently 0.2 days.

Adial Pharmaceuticals Stock Performance

Shares of ADIL opened at $2.54 on Friday. The company has a market capitalization of $5.43 million, a price-to-earnings ratio of -0.32 and a beta of 1.46. Adial Pharmaceuticals has a fifty-two week low of $1.31 and a fifty-two week high of $18.90. The firm has a 50-day simple moving average of $2.06 and a 200-day simple moving average of $3.26.

Adial Pharmaceuticals (NASDAQ:ADIL) last issued its quarterly earnings results on Friday, May 8th. The company reported ($1.48) EPS for the quarter, topping the consensus estimate of ($2.73) by $1.25.

Analyst Ratings Changes

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

Institutional Trading of Adial Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Jane Street Group LLC raised its holdings in Adial Pharmaceuticals by 887.3% in the fourth quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after purchasing an additional 109,500 shares during the period. Citadel Advisors LLC acquired a new stake in Adial Pharmaceuticals during the third quarter worth about $51,000. Finally, Armistice Capital LLC bought a new position in Adial Pharmaceuticals in the 4th quarter valued at approximately $562,000. Institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Company Profile

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.