Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Update

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,010,000 shares, an increase of 11,509.2% from the March 31st total of 8,700 shares. Currently, 26.7% of the company’s shares are sold short. Based on an average trading volume of 6,220,000 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On Adial Pharmaceuticals

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 159,000 shares of the company’s stock, valued at approximately $296,000. Armistice Capital LLC owned about 9.58% of Adial Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 16.41% of the company’s stock.

Adial Pharmaceuticals Stock Down 6.9 %

Adial Pharmaceuticals stock opened at $1.61 on Friday. The business’s 50-day simple moving average is $1.71 and its 200 day simple moving average is $1.80. The stock has a market cap of $6.52 million, a price-to-earnings ratio of -0.28 and a beta of 1.48. 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.