Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Increases By 121.8%

Posted by ABMN Staff on Nov 30th, 2024

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL – Get Free Report) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 175,000 shares, an increase of 121.8% from the October 31st total of 78,900 shares. Based on an average trading volume of 142,300 shares, the short-interest ratio is currently 1.2 days. Currently, 2.8% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ADIL shares. Rodman & Renshaw initiated coverage on Adial Pharmaceuticals in a report on Thursday, November 14th. They issued a “buy” rating and a $8.00 price target for the company. RODMAN&RENSHAW raised Adial Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, November 14th.

Check Out Our Latest Analysis on Adial Pharmaceuticals

Adial Pharmaceuticals Trading Up 0.9 %

ADIL stock opened at $1.00 on Friday. The stock has a 50-day moving average price of $1.01 and a two-hundred day moving average price of $1.09. Adial Pharmaceuticals has a 1 year low of $0.77 and a 1 year high of $4.17.

Hedge Funds Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC purchased a new position in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned about 0.48% of Adial Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 16.41% of the company’s stock.

About Adial Pharmaceuticals

(Get Free Report)

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.