Short Interest in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Drops By 83.5%

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) saw a large decrease in short interest in April. As of April 30th, there was short interest totalling 167,100 shares, a decrease of 83.5% from the April 15th total of 1,010,000 shares. Based on an average daily trading volume, of 6,250,000 shares, the days-to-cover ratio is currently 0.0 days. Approximately 4.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Armistice Capital LLC purchased a new position in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 159,000 shares of the company’s stock, valued at approximately $296,000. Armistice Capital LLC owned about 9.58% of Adial Pharmaceuticals at the end of the most recent reporting period. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Adial Pharmaceuticals Trading Down 9.1 %

ADIL traded down $0.15 on Friday, hitting $1.50. 117,360 shares of the company were exchanged, compared to its average volume of 4,471,752. The company has a market cap of $6.08 million, a price-to-earnings ratio of -0.26 and a beta of 1.41. The firm has a 50-day moving average price of $1.77 and a two-hundred day moving average price of $1.72. Adial Pharmaceuticals has a twelve month low of $0.77 and a twelve month high of $14.00.

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.