Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Down 19.8% in March

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 549,400 shares, a drop of 19.8% from the February 28th total of 685,300 shares. Based on an average daily trading volume, of 779,000 shares, the days-to-cover ratio is presently 0.7 days. Approximately 8.5% of the company’s shares are short sold.

Institutional Investors Weigh In On Adial Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Citadel Advisors LLC raised its holdings in shares of Adial Pharmaceuticals by 63.8% during the 4th quarter. Citadel Advisors LLC now owns 54,508 shares of the company’s stock worth $55,000 after buying an additional 21,238 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Adial Pharmaceuticals during the 4th quarter worth approximately $48,000. Finally, Geode Capital Management LLC raised its stake in shares of Adial Pharmaceuticals by 36.0% during the fourth quarter. Geode Capital Management LLC now owns 61,847 shares of the company’s stock valued at $62,000 after acquiring an additional 16,381 shares during the last quarter. Institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Stock Performance

NASDAQ ADIL opened at $0.67 on Monday. The stock has a market cap of $4.39 million, a price-to-earnings ratio of -0.20 and a beta of 1.13. Adial Pharmaceuticals has a 52-week low of $0.61 and a 52-week high of $3.10. The business has a 50 day simple moving average of $0.78 and a 200 day simple moving average of $0.95.

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