Significant Decrease in Short Interest for Adial Pharmaceuticals, Inc. (NASDAQ:ADIL)

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) experienced a major reduction in short interest during September. As reported on September 30th, the short interest dropped to 77,800 shares, which is a notable decline of 47.0% from the short interest of 146,700 shares recorded on September 15th. Currently, about 1.2% of the company's shares are short sold. With an average daily trading volume of 2,690,000 shares, the short-interest ratio is effectively at 0.0 days.

Performance of Adial Pharmaceuticals Stock

On Friday, NASDAQ ADIL opened at $0.95. The company has a 50-day simple moving average of $1.00 and a 200-day simple moving average of $1.25. Over the past year, Adial Pharmaceuticals reached a low of $0.77 and a high of $4.17.

Adial Pharmaceuticals last disclosed its earnings on August 13th, where it reported a loss of ($0.59) per share for the quarter, missing analysts' expectations of ($0.39) by $0.20. Analysts are projecting that Adial Pharmaceuticals will report an earnings per share of -1.62 for the current fiscal year.

Institutional Investors and Their Involvement

Recently, an institutional investor made a new investment in Adial Pharmaceuticals. Virtu Financial LLC acquired a new position in the company during the first quarter, according to the latest Form 13F filing with the Securities and Exchange Commission. They purchased 20,469 shares of the stock, valued at approximately $27,000, which accounts for around 0.48% of Adial Pharmaceuticals. Overall, institutional investors own about 16.41% of the company's stock.

About Adial Pharmaceuticals

Adial Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company that focuses on developing treatments for addiction and related disorders. Its leading product, AD04, is a serotonin-3 antagonist currently in Phase III clinical trials aimed at treating alcohol use disorder.

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Adial, Pharmaceuticals, Short