Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Grows By 634.0%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 347,148 shares, a growth of 634.0% from the May 31st total of 47,293 shares. Based on an average daily trading volume, of 1,988,864 shares, the days-to-cover ratio is presently 0.2 days. Currently, 16.5% of the company’s shares are sold short.

Institutional Trading of Adial Pharmaceuticals

Several hedge funds have recently made changes to their positions in ADIL. Armistice Capital LLC acquired a new position in shares of Adial Pharmaceuticals in the fourth quarter valued at approximately $562,000. Citadel Advisors LLC purchased a new stake in Adial Pharmaceuticals during the 3rd quarter worth approximately $51,000. Finally, Jane Street Group LLC increased its stake in Adial Pharmaceuticals by 887.3% during the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after buying an additional 109,500 shares during the period. Institutional investors and hedge funds own 16.41% of the company’s stock.

Wall Street Analysts Forecast Growth

ADIL has been the subject of a number of recent analyst reports. Loop Capital set a $6.00 price target on shares of Adial Pharmaceuticals in a research report on Monday, June 15th. Brookline Capital Markets lowered shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. Needham & Company LLC cut shares of Adial Pharmaceuticals to a “buy” rating in a research report on Monday, June 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Adial Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $17.17.

Adial Pharmaceuticals Trading Up 4.0%

ADIL stock opened at $2.58 on Friday. The company has a market capitalization of $5.52 million, a PE ratio of -0.32 and a beta of 1.46. Adial Pharmaceuticals has a 12-month low of $1.31 and a 12-month high of $18.90. The business’s fifty day moving average price is $2.04 and its 200 day moving average price is $3.27.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its earnings results on Friday, May 8th. The company reported ($1.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.73) by $1.25.

About Adial Pharmaceuticals

Adial Pharmaceuticals, Inc, incorporated in Delaware and founded in 2003, is a clinical-stage specialty pharmaceutical company dedicated to the development of treatments for addiction disorders and central nervous system conditions. The company’s mission centers on creating novel modalities designed to enhance patient adherence and clinical outcomes, particularly in areas of high unmet medical need. Adial leverages sustained-release delivery technologies to address the challenges associated with oral medication regimens in addiction therapy.

The company’s lead product candidate, AD04, is a bioerodible subcutaneous implant engineered to deliver naltrexone continuously over a multi-month period for individuals with alcohol dependence.