Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Sees Large Growth in Short Interest

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 78,900 shares, an increase of 54.1% from the October 15th total of 51,200 shares. Based on an average daily volume of 123,300 shares, the short-interest ratio is currently 0.6 days. Currently, 1.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Adial Pharmaceuticals

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Virtu Financial LLC acquired a new stake in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned approximately 0.48% of Adial Pharmaceuticals as of its most recent SEC filing. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Stock Performance

Shares of NASDAQ ADIL opened at $1.06 on Friday. Adial Pharmaceuticals has a 12-month low of $0.77 and a 12-month high of $4.17. The firm has a 50 day moving average of $1.03 and a 200 day moving average of $1.13.

Adial Pharmaceuticals (NASDAQ:ADIL) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.20). Analysts anticipate that Adial Pharmaceuticals will post -1.79 earnings per share for the current year.

Analyst Ratings Changes

ADIL has been the topic of several research analyst reports. Rodman & Renshaw assumed coverage on Adial Pharmaceuticals in a report on Thursday. They set a “buy” rating and a $8.00 price target on the stock. RODMAN&RENSHAW raised Adial Pharmaceuticals to a “strong-buy” rating in a report on Thursday.

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.