Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Expands By 121.8%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 175,000 shares, an increase of 121.8% from the October 31st total of 78,900 shares. Based on an average trading volume of 142,300 shares, the days-to-cover ratio is currently 1.2 days. Currently, 2.8% of the shares of the company are sold short.

Adial Pharmaceuticals Trading Down 0.9 %

Adial Pharmaceuticals stock opened at $0.99 on Friday. The firm has a 50 day simple moving average of $1.01 and a 200-day simple moving average of $1.09. Adial Pharmaceuticals has a 12-month low of $0.77 and a 12-month high of $4.17.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC acquired a new stake in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned approximately 0.48% of Adial Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 16.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. RODMAN&RENSHAW upgraded shares of Adial Pharmaceuticals to a “strong-buy” rating in a research note 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 target on the stock.

Adial Pharmaceuticals Company Profile

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.