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

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

Adial Pharmaceuticals Stock Up 1.0 %

ADIL opened at $1.02 on Wednesday. Adial Pharmaceuticals has a 12 month low of $0.77 and a 12 month high of $4.17. The company has a 50 day moving average of $1.06 and a 200 day moving average of $1.04.

Analysts Set New Price Targets

Several brokerages have issued reports on ADIL. RODMAN&RENSHAW upgraded Adial Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, November 14th. Rodman & Renshaw started coverage on Adial Pharmaceuticals in a research note on Thursday, November 14th. They issued a “buy” rating and a $8.00 price objective on the stock.

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.