Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Sees Large Decrease in Short Interest

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 146,700 shares, a drop of 46.2% from the August 31st total of 272,800 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily volume of 2,690,000 shares, the days-to-cover ratio is currently 0.1 days.

Adial Pharmaceuticals Stock Performance

Shares of ADIL opened at $1.00 on Friday. The business’s fifty day moving average price is $1.03 and its 200 day moving average price is $1.31. Adial Pharmaceuticals has a 12-month low of $0.77 and a 12-month 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 the consensus estimate of ($0.39) by ($0.20). As a group, research analysts anticipate that Adial Pharmaceuticals will post -1.62 EPS for the current year.

Hedge Funds 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 Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned 0.48% of Adial Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 16.41% of the company’s stock.

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.