Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Short Interest Update

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) was the recipient of 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 days-to-cover ratio is presently 0.3 days. Approximately 1.0% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Adial Pharmaceuticals Stock Performance

NASDAQ:ADIL opened at $0.79 on Friday. Adial Pharmaceuticals has a 52-week low of $0.72 and a 52-week high of $4.17. The stock’s 50 day moving average price is $0.99 and its 200 day moving average price is $1.01.

Hedge Funds Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Renaissance Technologies LLC purchased a new position in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 47,613 shares of the company’s stock, valued at approximately $48,000. Renaissance Technologies LLC owned 0.74% 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.

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.