Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Down 19.8% in March

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 549,400 shares, a decrease of 19.8% from the February 28th total of 685,300 shares. Based on an average daily volume of 779,000 shares, the short-interest ratio is currently 0.7 days. Approximately 8.5% of the shares of the company are short sold.

Adial Pharmaceuticals Stock Up 2.7 %

ADIL stock opened at $0.67 on Monday. The company has a market capitalization of $4.39 million, a P/E ratio of -0.20 and a beta of 1.13. The company has a 50-day simple moving average of $0.78 and a 200 day simple moving average of $0.95. Adial Pharmaceuticals has a fifty-two week low of $0.61 and a fifty-two week high of $3.10.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.23. Equities analysts anticipate that Adial Pharmaceuticals will post -1.53 EPS for the current year.

Hedge Funds Weigh In On Adial Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC bought a new stake in shares of Adial Pharmaceuticals during the fourth quarter valued at approximately $48,000. Citadel Advisors LLC increased its holdings in shares of Adial Pharmaceuticals by 63.8% during 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 in the last quarter. Finally, Geode Capital Management LLC raised its position in Adial Pharmaceuticals by 36.0% in the 4th quarter. Geode Capital Management LLC now owns 61,847 shares of the company’s stock valued at $62,000 after purchasing an additional 16,381 shares during the last quarter. 16.41% of the stock is owned by institutional investors and hedge funds.

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.