Adial Pharmaceuticals, Inc. (NASDAQ:ADIL – Get Free Report) saw a large decline in short interest in February. As of February 29th, there was short interest totalling 28,100 shares, a decline of 83.8% from the February 14th total of 173,300 shares. Based on an average daily trading volume, of 3,780,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.9% of the shares of the stock are sold short.
Adial Pharmaceuticals Trading Down 5.0 %
Shares of NASDAQ:ADIL opened at $1.90 on Wednesday. The company has a market capitalization of $3.15 million, a price-to-earnings ratio of -0.33 and a beta of 1.52. The firm’s 50-day moving average is $1.47 and its 200 day moving average is $2.11. Adial Pharmaceuticals has a 12 month low of $0.76 and a 12 month high of $14.00.
Hedge Funds Weigh In On Adial Pharmaceuticals
A number of institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC raised its stake in Adial Pharmaceuticals by 1,156.2% during the 3rd quarter. Citadel Advisors LLC now owns 265,062 shares of the company’s stock valued at $93,000 after acquiring an additional 243,962 shares during the last quarter. Armistice Capital LLC purchased a new stake in shares of Adial Pharmaceuticals during the fourth quarter valued at $296,000. Renaissance Technologies LLC lifted its stake in Adial Pharmaceuticals by 748.8% in the 2nd quarter. Renaissance Technologies LLC now owns 169,400 shares of the company’s stock worth $227,000 after acquiring an additional 149,442 shares in the last quarter. Susquehanna International Group LLP increased its position in Adial Pharmaceuticals by 144.3% in the 1st quarter. Susquehanna International Group LLP now owns 222,283 shares of the company’s stock worth $78,000 after purchasing an additional 131,287 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in Adial Pharmaceuticals in the 2nd quarter valued at approximately $53,000.
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.
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