Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Sees Significant Drop in Short Interest

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 77,800 shares, a drop of 47.0% from the September 15th total of 146,700 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average trading volume of 2,690,000 shares, the short-interest ratio is presently 0.0 days.

Institutional Investors Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC purchased a new position in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 filing with the Securities and Exchange Commission (SEC). 16.41% of the stock is owned by hedge funds and other institutional investors.

Adial Pharmaceuticals Stock Performance

Shares of NASDAQ:ADIL opened at $0.95 on Friday. Adial Pharmaceuticals has a 52 week low of $0.77 and a 52 week high of $4.17. The firm has a 50 day simple moving average of $1.00 and a 200 day simple moving average of $1.26.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its earnings results 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). As a group, analysts expect that Adial Pharmaceuticals will post -1.62 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.