Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Drops By 34.2%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 51,200 shares, a decrease of 34.2% from the September 30th total of 77,800 shares. Based on an average daily volume of 253,200 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.8% of the shares of the company are short sold.

Adial Pharmaceuticals Price Performance

Shares of Adial Pharmaceuticals stock opened at $1.10 on Friday. Adial Pharmaceuticals has a 52-week low of $0.77 and a 52-week high of $4.17. The company’s fifty day moving average price is $1.02 and its two-hundred day moving average price is $1.24.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.20). As a group, research analysts anticipate that Adial Pharmaceuticals will post -1.62 EPS for the current year.

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 position in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm 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. 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.