Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Declines By 34.2%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 51,200 shares, a drop of 34.2% from the September 30th total of 77,800 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily volume of 253,200 shares, the short-interest ratio is presently 0.2 days.

Adial Pharmaceuticals Price Performance

Shares of Adial Pharmaceuticals stock opened at $1.10 on Monday. The firm has a 50-day moving average of $1.02 and a 200-day moving average of $1.23. Adial Pharmaceuticals has a 52-week low of $0.77 and a 52-week high of $4.17.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its quarterly earnings data 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). As a group, equities analysts forecast that Adial Pharmaceuticals will post -1.62 earnings per share for the current year.

Institutional Investors Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC bought a new position in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned approximately 0.48% of Adial Pharmaceuticals as of its most recent filing with the SEC. 16.41% of the stock is owned by hedge funds and other institutional investors.

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.