Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Sees Large Drop in Short Interest

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 22,600 shares, a decrease of 60.8% from the December 31st total of 57,600 shares. Based on an average trading volume of 175,600 shares, the short-interest ratio is currently 0.1 days. Currently, 0.4% of the shares of the stock are sold short.

Analyst Ratings Changes

ADIL has been the subject of several research analyst reports. Rodman & Renshaw started coverage on Adial Pharmaceuticals in a research report on Thursday, November 14th. They issued a “buy” rating and a $8.00 price objective for the company. RODMAN&RENSHAW raised Adial Pharmaceuticals to a “strong-buy” rating in a report on Thursday, November 14th.

Adial Pharmaceuticals Price Performance

ADIL opened at $0.86 on Thursday. The company’s 50 day simple moving average is $1.04 and its 200-day simple moving average is $1.03. Adial Pharmaceuticals has a one year low of $0.72 and a one 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.