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

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) 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) 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) 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

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.