Adial Pharmaceuticals (NASDAQ:ADIL) Major Shareholder Purchases $65,000.00 in Stock

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) major shareholder Coastlands Capital Lp acquired 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were acquired at an average cost of $2.60 per share, for a total transaction of $65,000.00. Following the completion of the transaction, the insider directly owned 373,322 shares of the company’s stock, valued at $970,637.20. The trade was a 7.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Adial Pharmaceuticals Stock Performance

Shares of NASDAQ:ADIL opened at $2.90 on Friday. Adial Pharmaceuticals, Inc. has a fifty-two week low of $1.31 and a fifty-two week high of $18.90. The business has a 50-day simple moving average of $2.17 and a two-hundred day simple moving average of $3.10. The firm has a market cap of $6.21 million, a price-to-earnings ratio of -0.36 and a beta of 1.43.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its earnings results on Friday, May 8th. The company reported ($1.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.73) by $1.25.

Institutional Investors Weigh In On Adial Pharmaceuticals

Large investors have recently made changes to their positions in the company. Jane Street Group LLC lifted its stake in shares of Adial Pharmaceuticals by 887.3% in the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after purchasing an additional 109,500 shares during the period. Citadel Advisors LLC bought a new stake in Adial Pharmaceuticals during the third quarter valued at approximately $51,000. Finally, Armistice Capital LLC purchased a new stake in Adial Pharmaceuticals during the fourth quarter valued at approximately $562,000. 16.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADIL has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Monday, April 20th. Loop Capital set a $6.00 target price on shares of Adial Pharmaceuticals in a research report on Monday, June 15th. Needham & Company LLC lowered shares of Adial Pharmaceuticals to a “buy” rating in a research note on Monday, June 15th. Finally, Brookline Capital Markets cut Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Adial Pharmaceuticals has a consensus rating of “Hold” and an average target price of $17.17.

Adial Pharmaceuticals Company Profile

Adial Pharmaceuticals, Inc, incorporated in Delaware and founded in 2003, is a clinical-stage specialty pharmaceutical company dedicated to the development of treatments for addiction disorders and central nervous system conditions. The company’s mission centers on creating novel modalities designed to enhance patient adherence and clinical outcomes, particularly in areas of high unmet medical need. Adial leverages sustained-release delivery technologies to address the challenges associated with oral medication regimens in addiction therapy.

The company’s lead product candidate, AD04, is a bioerodible subcutaneous implant engineered to deliver naltrexone continuously over a multi-month period for individuals with alcohol dependence.