Rodman & Renshaw Initiates Coverage on Adial Pharmaceuticals (NASDAQ:ADIL)

Rodman & Renshaw assumed coverage on shares of Adial Pharmaceuticals (NASDAQ:ADIL) in a report released on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $8.00 price target on the stock.

Adial Pharmaceuticals Trading Down 7.0 %

Shares of NASDAQ:ADIL opened at $1.06 on Thursday. The business’s 50 day moving average price is $1.03 and its 200-day moving average price is $1.13. Adial Pharmaceuticals has a 1 year low of $0.77 and a 1 year high of $4.17.

Institutional Trading of Adial Pharmaceuticals

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Virtu Financial LLC purchased a new stake in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 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 quarter. Hedge funds and other institutional investors own 16.41% of the company’s stock.

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.