Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Update

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 78,900 shares, an increase of 54.1% from the October 15th total of 51,200 shares. Based on an average daily volume of 123,300 shares, the short-interest ratio is presently 0.6 days. Approximately 1.3% of the company’s shares are sold short.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

Separately, Rodman & Renshaw started coverage on shares of Adial Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $8.00 price target for the company.

Adial Pharmaceuticals Price Performance

NASDAQ:ADIL opened at $1.14 on Friday. The stock has a 50-day moving average price of $1.02 and a two-hundred day moving average price of $1.14. Adial Pharmaceuticals has a 1 year low of $0.77 and a 1 year high of $4.17.

Adial Pharmaceuticals (NASDAQ:ADIL) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.20). Research analysts expect 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.