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

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 57,600 shares, an increase of 16.4% from the November 30th total of 49,500 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily volume of 170,100 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

ADIL has been the subject of several research reports. Rodman & Renshaw began coverage on shares of Adial Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $8.00 price objective for the company. RODMAN&RENSHAW upgraded Adial Pharmaceuticals to a “strong-buy” rating in a report on Thursday, November 14th.

Adial Pharmaceuticals Price Performance

Adial Pharmaceuticals stock opened at $1.03 on Tuesday. The firm has a fifty day moving average of $1.06 and a 200-day moving average of $1.05. Adial Pharmaceuticals has a 52-week low of $0.77 and a 52-week high of $4.17.

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.