Insider Buying: Adial Pharmaceuticals (NASDAQ:ADIL) Major Shareholder Buys 25,000 Shares

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) major shareholder Coastlands Capital Lp bought 25,000 shares of Adial Pharmaceuticals stock in a transaction dated Monday, June 29th. The stock was acquired at an average cost of $2.60 per share, for a total transaction of $65,000.00. Following the completion of the transaction, the insider directly owned 373,322 shares in the company, valued at approximately $970,637.20. This trade represents a 7.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Adial Pharmaceuticals Price Performance

ADIL stock traded up $0.17 during trading on Wednesday, hitting $2.73. 31,700 shares of the stock traded hands, compared to its average volume of 280,121. The stock has a market cap of $5.85 million, a price-to-earnings ratio of -0.34 and a beta of 1.46. Adial Pharmaceuticals, Inc. has a 1 year low of $1.31 and a 1 year high of $18.90. The firm’s 50 day moving average is $2.09 and its two-hundred day moving average is $3.16.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.48) earnings per share for the quarter, topping the consensus estimate of ($2.73) by $1.25.

Analyst Ratings Changes

A number of brokerages recently commented on ADIL. Needham & Company LLC cut Adial Pharmaceuticals to a “buy” rating in a report on Monday, June 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Monday, April 20th. Loop Capital set a $6.00 price objective on Adial Pharmaceuticals in a report on Monday, June 15th. Finally, Brookline Capital Markets cut shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.17.

Institutional Trading of Adial Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC boosted its position in Adial Pharmaceuticals by 887.3% during the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock valued at $27,000 after acquiring an additional 109,500 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Adial Pharmaceuticals during the third quarter worth about $51,000. Finally, Armistice Capital LLC purchased a new stake in Adial Pharmaceuticals during the 4th quarter worth approximately $562,000. 16.41% of the stock is currently owned by institutional investors.

About Adial Pharmaceuticals

Adial Pharmaceuticals, Inc, incorporated in Delaware and founded in 2003, is a clinical-stage specialty pharmaceutical company dedicated to the development of treatments for addiction disorders and central nervous system conditions. The company’s mission centers on creating novel modalities designed to enhance patient adherence and clinical outcomes, particularly in areas of high unmet medical need. Adial leverages sustained-release delivery technologies to address the challenges associated with oral medication regimens in addiction therapy.

The company’s lead product candidate, AD04, is a bioerodible subcutaneous implant engineered to deliver naltrexone continuously over a multi-month period for individuals with alcohol dependence.