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

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 96,887 shares, a growth of 21.7% from the March 15th total of 79,609 shares. Currently, 6.9% of the company’s stock are sold short. Based on an average daily volume of 73,885 shares, the days-to-cover ratio is currently 1.3 days.

Adial Pharmaceuticals Trading Up 0.6%

NASDAQ:ADIL opened at $1.63 on Friday. Adial Pharmaceuticals has a 1 year low of $1.54 and a 1 year high of $30.25. The firm’s fifty day simple moving average is $2.06 and its 200 day simple moving average is $5.49. The firm has a market capitalization of $2.33 million, a PE ratio of -0.09 and a beta of 1.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Armistice Capital LLC acquired a new position in Adial Pharmaceuticals in the 4th quarter valued at $562,000. Jane Street Group LLC grew its stake in Adial Pharmaceuticals by 887.3% in the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock valued at $27,000 after buying an additional 109,500 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in Adial Pharmaceuticals in the 3rd quarter valued at $51,000. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADIL has been the topic of a number of recent research reports. UBS Group set a $8.00 price target on shares of Adial Pharmaceuticals in a report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.75.

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.