Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Up 919.9% in July

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 3,480,000 shares, agrowthof919.9% from the July 15th total of 341,200 shares. Based on an average daily trading volume, of 8,710,000 shares, the short-interest ratio is presently 0.4 days. Approximately16.8% of the company’s stock are short sold. Approximately16.8% of the company’s stock are short sold. Based on an average daily trading volume, of 8,710,000 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On Adial Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in ADIL. Renaissance Technologies LLC bought a new position in shares of Adial Pharmaceuticals during the fourth quarter valued at approximately $48,000. Citadel Advisors LLC increased its stake in shares of Adial Pharmaceuticals by 63.8% during the fourth quarter. Citadel Advisors LLC now owns 54,508 shares of the company’s stock valued at $55,000 after purchasing an additional 21,238 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Adial Pharmaceuticals by 36.0% during the fourth quarter. Geode Capital Management LLC now owns 61,847 shares of the company’s stock valued at $62,000 after acquiring an additional 16,381 shares in the last quarter. Institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Price Performance

Shares of ADIL opened at $0.39 on Friday. Adial Pharmaceuticals has a one year low of $0.22 and a one year high of $1.30. The company has a 50-day simple moving average of $0.39 and a two-hundred day simple moving average of $0.61. The firm has a market capitalization of $8.60 million, a PE ratio of -0.38 and a beta of 1.00.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its earnings results on Wednesday, August 13th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. Analysts expect that Adial Pharmaceuticals will post -1.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Adial Pharmaceuticals to a “sell” rating in a report on Saturday, July 26th.

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.