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

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 96,500 shares, a growth of 59.2% from the January 31st total of 60,600 shares. Based on an average trading volume of 813,300 shares, the short-interest ratio is presently 0.1 days. Currently, 1.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ADIL. Renaissance Technologies LLC bought a new position in Adial Pharmaceuticals in the 4th quarter valued at about $48,000. Citadel Advisors LLC boosted its position in shares of Adial Pharmaceuticals by 63.8% during the 4th quarter. Citadel Advisors LLC now owns 54,508 shares of the company’s stock worth $55,000 after acquiring an additional 21,238 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Adial Pharmaceuticals by 36.0% in 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 during the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.

Adial Pharmaceuticals Trading Down 6.9 %

NASDAQ:ADIL opened at $0.73 on Tuesday. Adial Pharmaceuticals has a fifty-two week low of $0.72 and a fifty-two week high of $3.60. The stock has a fifty day moving average price of $0.91 and a 200-day moving average price of $0.99.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ADIL shares. RODMAN&RENSHAW upgraded shares of Adial Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, November 14th. Rodman & Renshaw assumed coverage on shares of Adial Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $8.00 price target for the company.

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.