Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Up 195.6% in January

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 60,600 shares, an increase of 195.6% from the January 15th total of 20,500 shares. Based on an average daily volume of 175,900 shares, the days-to-cover ratio is currently 0.3 days. Currently, 1.0% of the company’s stock are short sold.

Adial Pharmaceuticals Stock Down 0.2 %

NASDAQ:ADIL traded down $0.00 during trading hours on Wednesday, reaching $0.78. 205,380 shares of the company’s stock were exchanged, compared to its average volume of 121,614. Adial Pharmaceuticals has a 1-year low of $0.72 and a 1-year high of $4.17. The company has a 50-day moving average of $0.99 and a 200 day moving average of $1.01.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. RODMAN&RENSHAW raised Adial Pharmaceuticals to a “strong-buy” rating in a report on Thursday, November 14th. Rodman & Renshaw initiated coverage on Adial Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $8.00 price target on the stock.

Institutional Investors Weigh In On Adial Pharmaceuticals

A hedge fund recently raised its stake in Adial Pharmaceuticals stock. Geode Capital Management LLC lifted its stake in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) by 36.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,847 shares of the company’s stock after purchasing an additional 16,381 shares during the period. Geode Capital Management LLC owned approximately 0.96% of Adial Pharmaceuticals worth $62,000 as of its most recent SEC filing. 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.