Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Down 46.2% in September

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 146,700 shares, a drop of 46.2% from the August 31st total of 272,800 shares. Based on an average daily volume of 2,690,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 2.3% of the shares of the company are sold short.

Institutional Investors Weigh In On Adial Pharmaceuticals

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Armistice Capital LLC acquired a new position in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 159,000 shares of the company’s stock, valued at approximately $296,000. Armistice Capital LLC owned about 9.58% of Adial Pharmaceuticals at the end of the most recent quarter. Institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Price Performance

NASDAQ:ADIL opened at $1.01 on Friday. Adial Pharmaceuticals has a 12 month low of $0.77 and a 12 month high of $4.17. The company’s 50 day moving average is $1.03 and its 200-day moving average is $1.30.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.20). Sell-side analysts forecast that Adial Pharmaceuticals will post -1.62 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.