Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Down 47.0% in September

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 77,800 shares, a decline of 47.0% from the September 15th total of 146,700 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average daily trading volume, of 2,690,000 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC acquired a new stake in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned about 0.48% of Adial Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 16.41% of the company’s stock.

Adial Pharmaceuticals Stock Performance

Shares of ADIL opened at $0.95 on Friday. Adial Pharmaceuticals has a 1-year low of $0.77 and a 1-year high of $4.17. The company’s fifty day simple moving average is $1.00 and its 200 day simple moving average is $1.25.

Adial Pharmaceuticals (NASDAQ:ADIL) last issued 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). Equities analysts forecast that Adial Pharmaceuticals will post -1.62 earnings per share for the current fiscal 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.