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

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,010,000 shares, an increase of 11,509.2% from the March 31st total of 8,700 shares. Based on an average daily trading volume, of 6,220,000 shares, the short-interest ratio is presently 0.2 days. Approximately 26.7% of the company’s stock are short sold.

Hedge Funds Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Armistice Capital LLC acquired a new position in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 159,000 shares of the company’s stock, valued at approximately $296,000. Armistice Capital LLC owned 9.58% of Adial Pharmaceuticals at the end of the most recent reporting period. 16.41% of the stock is owned by institutional investors and hedge funds.

Adial Pharmaceuticals Trading Down 6.9 %

Shares of NASDAQ:ADIL opened at $1.61 on Friday. The firm has a market cap of $6.52 million, a PE ratio of -0.28 and a beta of 1.48. The company has a fifty day simple moving average of $1.71 and a 200 day simple moving average of $1.80. Adial Pharmaceuticals has a 12-month low of $0.77 and a 12-month high of $14.00.

Adial Pharmaceuticals Company Profile

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.