Adial Pharmaceuticals (NASDAQ:ADIL) Coverage Initiated at Rodman & Renshaw

Rodman & Renshaw started coverage on shares of Adial Pharmaceuticals (NASDAQ:ADIL) in a research report report published on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $8.00 price target on the stock.

Adial Pharmaceuticals Stock Down 7.0 %

Shares of ADIL opened at $1.06 on Thursday. The business’s 50-day moving average is $1.03 and its two-hundred day moving average is $1.13. Adial Pharmaceuticals has a fifty-two week low of $0.77 and a fifty-two week high of $4.17.

Institutional Investors Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC bought a new stake in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned 0.48% of Adial Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 16.41% of the company’s stock.

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.