Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Declines By 60.8%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 22,600 shares, a decline of 60.8% from the December 31st total of 57,600 shares. Based on an average daily trading volume, of 175,600 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.4% of the company’s shares are short sold.

Adial Pharmaceuticals Price Performance

Shares of NASDAQ ADIL opened at $0.83 on Friday. Adial Pharmaceuticals has a twelve month low of $0.72 and a twelve month high of $4.17. The firm has a fifty day simple moving average of $1.04 and a 200 day simple moving average of $1.03.

Analysts Set New Price Targets

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

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.