Adial Pharmaceuticals Inc (NASDAQ:ADIL) was the recipient 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 trading volume of 1,143,958 shares, the short-interest ratio is presently 0.2 days. Approximately 3.4% of the shares of the stock are short sold.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP purchased a new position in shares of Adial Pharmaceuticals during the 4th quarter valued at about $60,000. Geode Capital Management LLC purchased a new position in shares of Adial Pharmaceuticals during the 4th quarter valued at about $69,000. Finally, BlackRock Inc. purchased a new position in shares of Adial Pharmaceuticals during the 4th quarter valued at about $1,053,000. 3.80% of the stock is currently owned by institutional investors.
Shares of NASDAQ ADIL opened at $3.31 on Friday. Adial Pharmaceuticals has a 1-year low of $1.11 and a 1-year high of $9.44.
Several analysts have weighed in on the company. ValuEngine cut Adial Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, December 21st. Maxim Group reissued a “buy” rating and set a $5.00 price objective on shares of Adial Pharmaceuticals in a report on Thursday, December 13th.
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About Adial Pharmaceuticals
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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