Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Declines By 14.5%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 272,800 shares, a decrease of 14.5% from the August 15th total of 318,900 shares. Based on an average daily volume of 2,700,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 4.3% of the company’s shares are sold short.

Adial Pharmaceuticals Stock Performance

NASDAQ:ADIL opened at $1.08 on Monday. Adial Pharmaceuticals has a 52 week low of $0.77 and a 52 week high of $4.30. The stock’s fifty day moving average is $1.04 and its two-hundred day moving average is $1.38.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.20). Equities research analysts predict that Adial Pharmaceuticals will post -1.62 EPS for the current fiscal year.

Institutional Trading of Adial Pharmaceuticals

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Virtu Financial LLC acquired a new stake in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned approximately 0.48% of Adial Pharmaceuticals at the end of the most recent reporting period. 16.41% of the stock is owned by institutional investors and hedge funds.

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.