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

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 105,600 shares, an increase of 275.8% from the February 29th total of 28,100 shares. Currently, 7.0% of the company’s shares are short sold. Based on an average daily trading volume, of 3,820,000 shares, the short-interest ratio is currently 0.0 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new stake in Adial Pharmaceuticals in the 1st quarter valued at about $40,000. Virtu Financial LLC purchased a new position in Adial Pharmaceuticals in the second quarter worth approximately $43,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Adial Pharmaceuticals during the 1st quarter worth approximately $70,000. Millennium Management LLC purchased a new stake in shares of Adial Pharmaceuticals in the 2nd quarter valued at approximately $53,000. Finally, Armistice Capital LLC purchased a new stake in shares of Adial Pharmaceuticals in the 4th quarter valued at approximately $296,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Price Performance

Shares of Adial Pharmaceuticals stock opened at $1.33 on Friday. The stock has a market capitalization of $2.21 million, a price-to-earnings ratio of -0.23 and a beta of 1.52. The business has a 50-day moving average of $1.46 and a 200 day moving average of $1.95. Adial Pharmaceuticals has a 12 month low of $0.77 and a 12 month high of $14.00.

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.