Coastlands Capital Lp Purchases 10,053 Shares of Adial Pharmaceuticals (NASDAQ:ADIL) Stock

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) major shareholder Coastlands Capital Lp acquired 10,053 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was bought at an average cost of $2.79 per share, for a total transaction of $28,047.87. Following the completion of the transaction, the insider directly owned 383,375 shares of the company’s stock, valued at $1,069,616.25. This trade represents a 2.69% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Coastlands Capital Lp also recently made the following trade(s):

• On Friday, July 10th, Coastlands Capital Lp acquired 1,700 shares of Adial Pharmaceuticals stock. The shares were bought at an average price of $2.70 per share, for a total transaction of $4,590.00.
• On Monday, June 29th, Coastlands Capital Lp bought 25,000 shares of Adial Pharmaceuticals stock. The stock was bought at an average cost of $2.60 per share, with a total value of $65,000.00.

Adial Pharmaceuticals Price Performance

Shares of NASDAQ ADIL opened at $2.65 on Wednesday. Adial Pharmaceuticals, Inc. has a 1-year low of $1.31 and a 1-year high of $18.90. The company has a market capitalization of $5.67 million, a price-to-earnings ratio of -0.33 and a beta of 1.43. The business has a 50-day moving average of $2.35 and a 200-day moving average of $2.90.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its earnings results on Friday, May 8th. The company reported ($1.48) EPS for the quarter, beating the consensus estimate of ($2.73) by $1.25.

Hedge Funds Weigh In On Adial Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ADIL. Armistice Capital LLC acquired a new stake in shares of Adial Pharmaceuticals during the 4th quarter worth approximately $562,000. Citadel Advisors LLC bought a new position in Adial Pharmaceuticals during the 3rd quarter worth $51,000. Finally, Jane Street Group LLC grew its stake in Adial Pharmaceuticals by 887.3% during the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after buying an additional 109,500 shares during the last quarter. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADIL has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Monday, April 20th. Needham & Company LLC lowered shares of Adial Pharmaceuticals to a “buy” rating in a report on Monday, June 15th. Loop Capital set a $6.00 price target on shares of Adial Pharmaceuticals in a research note on Monday, June 15th. Finally, Brookline Capital Markets downgraded shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.17.

About Adial Pharmaceuticals

Adial Pharmaceuticals, Inc, incorporated in Delaware and founded in 2003, is a clinical-stage specialty pharmaceutical company dedicated to the development of treatments for addiction disorders and central nervous system conditions. The company’s mission centers on creating novel modalities designed to enhance patient adherence and clinical outcomes, particularly in areas of high unmet medical need. Adial leverages sustained-release delivery technologies to address the challenges associated with oral medication regimens in addiction therapy.

The company’s lead product candidate, AD04, is a bioerodible subcutaneous implant engineered to deliver naltrexone continuously over a multi-month period for individuals with alcohol dependence.