Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Expands By 634.0%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totaling 347,148 shares, an increase of 634.0% from the May 31st total of 47,293 shares. Currently, 16.5% of the shares of the stock are short sold. Based on an average trading volume of 1,988,864 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ADIL shares. Needham & Company LLC downgraded shares of Adial Pharmaceuticals to a “buy” rating in a research note on Monday, June 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Monday, April 20th. Brookline Capital Markets downgraded shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 11th. Finally, Loop Capital set a $6.00 price objective on shares of Adial Pharmaceuticals in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.17.

Adial Pharmaceuticals Price Performance

ADIL opened at $2.54 on Friday. Adial Pharmaceuticals has a fifty-two week low of $1.31 and a fifty-two week high of $18.90. The company’s 50 day moving average price is $2.06 and its two-hundred day moving average price is $3.26. The firm has a market capitalization of $5.43 million, a price-to-earnings ratio of -0.32 and a beta of 1.46.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its quarterly 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ADIL. Jane Street Group LLC grew its position 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 valued at $27,000 after buying an additional 109,500 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Adial Pharmaceuticals in the third quarter valued at about $51,000. Finally, Armistice Capital LLC bought a new position in shares of Adial Pharmaceuticals during the fourth quarter worth about $562,000. 16.41% of the stock is owned by institutional investors and hedge funds.

About Adial Pharmaceuticals

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.