Adial Pharmaceuticals (NASDAQ:ADIL) Major Shareholder Buys $28,047.87 in Stock

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) major shareholder Coastlands Capital Lp bought 10,053 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were acquired at an average cost of $2.79 per share, with a total value of $28,047.87. Following the completion of the transaction, the insider owned 383,375 shares in the company, valued at approximately $1,069,616.25. The trade was a 2.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Coastlands Capital Lp also recently made the following trade(s):

• On Friday, July 10th, Coastlands Capital Lp purchased 1,700 shares of Adial Pharmaceuticals stock. The shares were bought at an average price of $2.70 per share, with a total value of $4,590.00.
• On Monday, June 29th, Coastlands Capital Lp acquired 25,000 shares of Adial Pharmaceuticals stock. The shares were bought at an average price of $2.60 per share, with a total value of $65,000.00.

Adial Pharmaceuticals Stock Performance

ADIL stock traded up $0.02 during mid-day trading on Monday, hitting $2.80. The company had a trading volume of 34,336 shares, compared to its average volume of 267,850. The firm has a market cap of $6.00 million, a PE ratio of -0.35 and a beta of 1.43. Adial Pharmaceuticals, Inc. has a 12 month low of $1.31 and a 12 month high of $18.90. The stock’s fifty day moving average price is $2.30 and its two-hundred day moving average price is $2.95.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its earnings results on Friday, May 8th. The company reported ($1.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.73) by $1.25.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC boosted its position in shares of Adial Pharmaceuticals by 887.3% in the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after purchasing an additional 109,500 shares in the last quarter. Citadel Advisors LLC bought a new stake in Adial Pharmaceuticals in the third quarter worth $51,000. Finally, Armistice Capital LLC bought a new stake in Adial Pharmaceuticals in the fourth quarter worth $562,000. 16.41% of the stock is 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.