Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Up 610.2% in February

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 685,300 shares, an increase of 610.2% from the February 13th total of 96,500 shares. Based on an average daily volume of 811,500 shares, the days-to-cover ratio is currently 0.8 days. Currently, 10.6% of the shares of the stock are short sold.

Institutional Investors Weigh In On Adial Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of ADIL. Renaissance Technologies LLC purchased a new position in shares of Adial Pharmaceuticals during the fourth quarter worth approximately $48,000. Citadel Advisors LLC lifted its holdings in shares of Adial Pharmaceuticals by 63.8% in the 4th quarter. Citadel Advisors LLC now owns 54,508 shares of the company’s stock worth $55,000 after buying an additional 21,238 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Adial Pharmaceuticals by 36.0% during the 4th quarter. Geode Capital Management LLC now owns 61,847 shares of the company’s stock worth $62,000 after buying an additional 16,381 shares in the last quarter. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Adial Pharmaceuticals Stock Up 7.3 %

ADIL stock traded up $0.05 during mid-day trading on Wednesday, hitting $0.68. The company had a trading volume of 52,654 shares, compared to its average volume of 1,620,567. Adial Pharmaceuticals has a 12-month low of $0.61 and a 12-month high of $3.10. The company has a 50-day moving average price of $0.87 and a 200 day moving average price of $0.98. The company has a market capitalization of $4.47 million, a price-to-earnings ratio of -0.21 and a beta of 1.13.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.23. As a group, analysts expect that Adial Pharmaceuticals will post -1.53 EPS for the current year.

Wall Street Analyst Weigh In

ADIL has been the subject of a number of recent analyst reports. RODMAN&RENSHAW raised Adial Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, November 14th. Rodman & Renshaw started coverage on shares of Adial Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $8.00 price objective 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.