Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Grows By 610.2%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 685,300 shares, a growth of 610.2% from the February 13th total of 96,500 shares. Approximately 10.6% of the shares of the company are short sold. Based on an average daily volume of 811,500 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Rodman & Renshaw assumed coverage on Adial Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $8.00 target price for the company. RODMAN&RENSHAW upgraded Adial Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, November 14th.

Hedge Funds Weigh In On Adial Pharmaceuticals

Several hedge funds have recently modified their holdings of ADIL. Renaissance Technologies LLC acquired a new position in shares of Adial Pharmaceuticals in the 4th quarter worth approximately $48,000. Citadel Advisors LLC grew its position in Adial Pharmaceuticals by 63.8% in the fourth quarter. Citadel Advisors LLC now owns 54,508 shares of the company’s stock worth $55,000 after buying an additional 21,238 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Adial Pharmaceuticals by 36.0% in the fourth quarter. Geode Capital Management LLC now owns 61,847 shares of the company’s stock valued at $62,000 after buying an additional 16,381 shares in the last quarter. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Adial Pharmaceuticals Trading Up 8.4 %

ADIL opened at $0.69 on Thursday. Adial Pharmaceuticals has a twelve month low of $0.61 and a twelve month high of $3.10. The stock has a market cap of $4.52 million, a PE ratio of -0.21 and a beta of 1.13. The business’s 50 day moving average is $0.86 and its 200-day moving average is $0.98.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.23. As a group, analysts forecast that Adial Pharmaceuticals will post -1.53 EPS for the current year.

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.