Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Up 275.8% in March

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient 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. Approximately 7.0% of the company’s shares are short sold. Based on an average daily volume of 3,820,000 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Adial Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new position in shares of Adial Pharmaceuticals during the 1st quarter worth about $40,000. Virtu Financial LLC acquired a new position in shares of Adial Pharmaceuticals during the 2nd quarter worth about $43,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Adial Pharmaceuticals during the 1st quarter worth about $70,000. Millennium Management LLC acquired a new position in shares of Adial Pharmaceuticals during the 2nd quarter worth about $53,000. Finally, Susquehanna International Group LLP grew its position in shares of Adial Pharmaceuticals by 144.3% during the 1st quarter. Susquehanna International Group LLP now owns 222,283 shares of the company’s stock worth $78,000 after buying an additional 131,287 shares during the period. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Adial Pharmaceuticals Stock Up 2.6 %

Shares of ADIL stock opened at $1.40 on Thursday. The stock has a 50-day moving average price of $1.46 and a 200 day moving average price of $1.95. The firm has a market cap of $2.32 million, a price-to-earnings ratio of -0.24 and a beta of 1.52. 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.