Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Sees Large Growth in Short Interest

Posted by Stacy Sanders on Sep 4th, 2024

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL – Get Free Report) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 318,900 shares, a growth of 8.3% from the July 31st total of 294,400 shares. Based on an average daily trading volume, of 2,730,000 shares, the short-interest ratio is presently 0.1 days. Currently, 5.1% of the shares of the company are short sold.

Adial Pharmaceuticals Trading Up 1.9 %

Shares of ADIL opened at $1.00 on Wednesday. Adial Pharmaceuticals has a 52 week low of $0.77 and a 52 week high of $4.36. The firm’s 50-day simple moving average is $1.04 and its 200 day simple moving average is $1.38.

Adial Pharmaceuticals (NASDAQ:ADIL – Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.20). On average, equities analysts forecast that Adial Pharmaceuticals will post -1.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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 its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned 0.48% of Adial Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 16.41% of the company’s stock.

About Adial Pharmaceuticals

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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.