Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Sees Significant Growth in Short Interest

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Adial Pharmaceuticals stock. Geode Capital Management LLC raised its position in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) by 36.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,847 shares of the company’s stock after purchasing an additional 16,381 shares during the quarter. Geode Capital Management LLC owned 0.96% of Adial Pharmaceuticals worth $62,000 at the end of the most recent quarter. 16.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADIL has been the topic of several recent research reports. Rodman & Renshaw initiated coverage on Adial Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $8.00 price objective on the stock. RODMAN&RENSHAW upgraded shares of Adial Pharmaceuticals to a “strong-buy” rating in a report on Thursday, November 14th.

Adial Pharmaceuticals Stock Performance

Adial Pharmaceuticals stock traded down $0.00 during trading on Wednesday, hitting $0.78. The company’s stock had a trading volume of 205,380 shares, compared to its average volume of 121,614. The stock’s fifty day moving average is $0.99 and its 200 day moving average is $1.01. Adial Pharmaceuticals has a 1-year low of $0.72 and a 1-year high of $4.17.

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.