Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Up 610.2% in February

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 685,300 shares, a growth of 610.2% from the February 13th total of 96,500 shares. Currently, 10.6% of the company’s shares are sold short. Based on an average daily trading volume, of 811,500 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. RODMAN&RENSHAW raised shares of Adial Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, November 14th. Rodman & Renshaw started coverage on shares of Adial Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $8.00 price objective for the company.

Institutional Investors Weigh In On Adial Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADIL. Renaissance Technologies LLC bought a new stake in shares of Adial Pharmaceuticals in the 4th quarter valued at approximately $48,000. Citadel Advisors LLC increased its position in Adial Pharmaceuticals by 63.8% during the fourth quarter. Citadel Advisors LLC now owns 54,508 shares of the company’s stock worth $55,000 after buying an additional 21,238 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Adial Pharmaceuticals by 36.0% during the fourth quarter. Geode Capital Management LLC now owns 61,847 shares of the company’s stock valued at $62,000 after buying an additional 16,381 shares in the last quarter. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Trading Up 8.4 %

Shares of ADIL stock opened at $0.69 on Thursday. The company has a market capitalization of $4.52 million, a price-to-earnings ratio of -0.21 and a beta of 1.13. Adial Pharmaceuticals has a 1-year low of $0.61 and a 1-year high of $3.10. The stock’s fifty day simple moving average is $0.86 and its 200-day simple moving average is $0.98.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its earnings results on Tuesday, March 4th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.23. On average, sell-side analysts predict that Adial Pharmaceuticals will post -1.53 EPS for the current year.

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.