Adial Pharmaceuticals (NASDAQ:ADIL) Trading Down 5.2% – Here’s Why

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) shares traded down 5.2% during mid-day trading on Monday . The company traded as low as $0.65 and last traded at $0.65. 45,308 shares traded hands during trading, a decline of 95% from the average session volume of 993,837 shares. The stock had previously closed at $0.69.

Adial Pharmaceuticals Stock Performance

The firm has a market capitalization of $4.27 million, a PE ratio of -0.20 and a beta of 1.26. The business’s fifty day simple moving average is $0.73 and its 200-day simple moving average is $0.91.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.23. Sell-side analysts expect that Adial Pharmaceuticals, Inc. will post -1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adial Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in shares of Adial Pharmaceuticals during the 4th quarter worth approximately $48,000. Citadel Advisors LLC increased its position in Adial Pharmaceuticals by 63.8% in the fourth quarter. Citadel Advisors LLC now owns 54,508 shares of the company’s stock worth $55,000 after purchasing an additional 21,238 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Adial Pharmaceuticals by 36.0% during the fourth quarter. Geode Capital Management LLC now owns 61,847 shares of the company’s stock valued at $62,000 after purchasing an additional 16,381 shares in the last quarter. Hedge funds and other institutional investors own 16.41% of the company’s stock.

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.