Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Expands By 54.1%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 78,900 shares, a growth of 54.1% from the October 15th total of 51,200 shares. Based on an average daily trading volume, of 123,300 shares, the days-to-cover ratio is presently 0.6 days. Currently, 1.3% of the shares of the stock are short sold.

Institutional Investors Weigh In On 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 filing with the Securities & Exchange Commission. The fund acquired 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned about 0.48% of Adial Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 16.41% of the company’s stock.

Adial Pharmaceuticals Stock Down 2.8 %

ADIL stock opened at $0.99 on Thursday. The firm’s fifty day moving average is $1.02 and its 200 day moving average is $1.14. Adial Pharmaceuticals has a 52 week low of $0.77 and a 52 week high of $4.17.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced 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). On average, research analysts forecast that Adial Pharmaceuticals will post -1.79 earnings per share for the current fiscal 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.