Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Sees Significant Growth in Short Interest

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 60,600 shares, an increase of 195.6% from the January 15th total of 20,500 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 175,900 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of Adial Pharmaceuticals

An institutional investor recently raised its position in Adial Pharmaceuticals stock. Geode Capital Management LLC boosted its holdings in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) by 36.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,847 shares of the company’s stock after acquiring an additional 16,381 shares during the quarter. Geode Capital Management LLC owned 0.96% of Adial Pharmaceuticals worth $62,000 at the end of the most recent reporting period. 16.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADIL has been the topic of several research analyst reports. RODMAN&RENSHAW raised Adial Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, November 14th. Rodman & Renshaw started coverage on Adial Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $8.00 price target on the stock.

Adial Pharmaceuticals Trading Down 0.2 %

NASDAQ:ADIL opened at $0.78 on Thursday. Adial Pharmaceuticals has a 52-week low of $0.72 and a 52-week high of $4.17. The business’s fifty day moving average is $0.99 and its 200 day moving average is $1.01.

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.