Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Down 63.0% in May

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a large decrease in short interest in May. As of May 31st, there was short interest totalling 134,300 shares, a decrease of 63.0% from the May 15th total of 362,900 shares. Based on an average daily volume of 600,100 shares, the short-interest ratio is currently 0.2 days. Approximately 1.7% of the company’s shares are short sold.

Institutional Investors Weigh In On Adial Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ADIL. Geode Capital Management LLC boosted its position in Adial Pharmaceuticals by 36.0% during the 4th quarter. Geode Capital Management LLC now owns 61,847 shares of the company’s stock valued at $62,000 after buying an additional 16,381 shares during the period. Renaissance Technologies LLC purchased a new stake in Adial Pharmaceuticals during the 4th quarter valued at $48,000. Finally, Citadel Advisors LLC boosted its position in Adial Pharmaceuticals by 63.8% during the 4th quarter. Citadel Advisors LLC now owns 54,508 shares of the company’s stock valued at $55,000 after buying 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

Shares of Adial Pharmaceuticals stock opened at $0.35 on Friday. Adial Pharmaceuticals has a 52-week low of $0.35 and a 52-week high of $3.00. The stock has a market capitalization of $2.77 million, a price-to-earnings ratio of -0.24 and a beta of 1.18. The company has a fifty day moving average of $0.67 and a 200-day moving average of $0.81.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.16. On average, equities research analysts forecast that Adial Pharmaceuticals will post -1.53 earnings per share for the current fiscal year.

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.