Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Drops By 48.0%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 217,100 shares, a decrease of 48.0% from the March 31st total of 417,400 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 765,900 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Adial Pharmaceuticals by 36.0% in the 4th quarter. Geode Capital Management LLC now owns 61,847 shares of the company’s stock worth $62,000 after buying an additional 16,381 shares during the period. Renaissance Technologies LLC purchased a new position in Adial Pharmaceuticals in the 4th quarter worth approximately $48,000. Finally, Citadel Advisors LLC boosted its holdings in Adial Pharmaceuticals by 63.8% in the 4th quarter. Citadel Advisors LLC now owns 54,508 shares of the company’s stock worth $55,000 after acquiring an additional 21,238 shares during the period. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Stock Performance

ADIL stock opened at $0.71 on Tuesday. Adial Pharmaceuticals has a 1 year low of $0.58 and a 1 year high of $3.00. The stock’s 50 day moving average price is $0.72 and its 200 day moving average price is $0.90. The firm has a market cap of $4.69 million, a P/E ratio of -0.22 and a beta of 1.26.

Adial Pharmaceuticals (NASDAQ:ADIL) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.23. On average, research analysts predict that Adial Pharmaceuticals will post -1.53 earnings per share for the current year.

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.