Adial Pharmaceuticals Inc (NASDAQ:ADIL) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 236,054 shares, a decrease of 59.3% from the February 15th total of 579,355 shares. Approximately 3.4% of the company’s shares are sold short. Based on an average daily trading volume, of 1,143,958 shares, the short-interest ratio is currently 0.2 days.
A number of analysts have recently commented on ADIL shares. Maxim Group restated a “buy” rating and set a $5.00 price objective on shares of Adial Pharmaceuticals in a report on Thursday, December 13th. ValuEngine downgraded Adial Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, December 21st.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC acquired a new stake in Adial Pharmaceuticals in the 4th quarter valued at $69,000. Two Sigma Investments LP acquired a new stake in Adial Pharmaceuticals in the 4th quarter valued at $60,000. Finally, BlackRock Inc. acquired a new stake in Adial Pharmaceuticals in the 4th quarter valued at $1,053,000. Hedge funds and other institutional investors own 3.80% of the company’s stock.
Shares of NASDAQ ADIL opened at $3.63 on Friday. Adial Pharmaceuticals has a 12-month low of $1.11 and a 12-month high of $9.44.
ILLEGAL ACTIVITY WARNING: “Adial Pharmaceuticals Inc (ADIL) Short Interest Update” was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2019/03/15/adial-pharmaceuticals-inc-adil-short-interest-update.html.
About Adial Pharmaceuticals
Adial Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic agents for the treatment of alcohol use disorders. Its lead product is AD04, a selective serotonin-3 antagonist that has completed Phase IIb clinical trials for the treatment of nausea and emesis.
Read More: How Do You Calculate Return on Equity (ROE)?
Receive News & Ratings for Adial Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adial Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.