Adial Pharmaceuticals Inc (NASDAQ:ADIL) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 236,054 shares, a drop of 59.3% from the February 15th total of 579,355 shares. Based on an average daily volume of 1,143,958 shares, the days-to-cover ratio is currently 0.2 days. Currently, 3.4% of the company’s stock are sold short.

NASDAQ ADIL opened at $3.31 on Friday. Adial Pharmaceuticals has a 52-week low of $1.11 and a 52-week high of $9.44.

A number of research firms have recently weighed in on ADIL. ValuEngine downgraded shares of Adial Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, December 21st. Maxim Group restated a “buy” rating and set a $5.00 price target on shares of Adial Pharmaceuticals in a report on Thursday, December 13th.

Institutional investors have recently modified their holdings of the company. Two Sigma Investments LP acquired a new stake in shares of Adial Pharmaceuticals during the 4th quarter valued at about $60,000. Geode Capital Management LLC acquired a new stake in shares of Adial Pharmaceuticals during the 4th quarter valued at about $69,000. Finally, BlackRock Inc. acquired a new stake in shares of Adial Pharmaceuticals during the 4th quarter valued at about $1,053,000. Institutional investors and hedge funds own 3.80% of the company’s stock.

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Adial Pharmaceuticals Company Profile

Adial Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic agents for the treatment of alcohol use disorders. Its lead product is AD04, a selective serotonin-3 antagonist that has completed Phase IIb clinical trials for the treatment of nausea and emesis.

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