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

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 1,430,000 shares, a decline of 22.3% from the August 15th total of 1,840,000 shares. Based on an average daily trading volume, of 8,820,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 6.8% of the company’s shares are sold short. Currently, 6.8% of the company’s shares are sold short. Based on an average daily trading volume, of 8,820,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Adial Pharmaceuticals stock. Citadel Advisors LLC raised its holdings in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) by 63.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,508 shares of the company’s stock after acquiring an additional 21,238 shares during the quarter. Citadel Advisors LLC owned approximately 0.85% of Adial Pharmaceuticals worth $55,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ADIL shares. Wall Street Zen raised Adial Pharmaceuticals to a “sell” rating in a research note on Saturday, July 26th. Zacks Research cut Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $8.00.

Adial Pharmaceuticals Stock Performance

NASDAQ:ADIL opened at $0.35 on Friday. The stock has a 50-day simple moving average of $0.40 and a 200-day simple moving average of $0.53. The stock has a market cap of $7.64 million, a P/E ratio of -0.33 and a beta of 1.08. Adial Pharmaceuticals has a 1 year low of $0.22 and a 1 year high of $1.30.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. On average, equities research analysts predict that Adial Pharmaceuticals will post -1.53 EPS for the current year.

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.