Adial Pharmaceuticals (NASDAQ:ADIL) Trading Down 1.7% – Time to Sell?

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL)’s share price dropped 1.7% on Wednesday . The company traded as low as $2.25 and last traded at $2.32. Approximately 21,181 shares traded hands during trading, a decline of 90% from the average daily volume of 202,361 shares. The stock had previously closed at $2.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adial Pharmaceuticals in a report on Monday, April 20th. UBS Group set a $8.00 target price on Adial Pharmaceuticals in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.75.

Adial Pharmaceuticals Price Performance

The firm has a market capitalization of $4.74 million, a PE ratio of -0.28 and a beta of 1.46. The company’s fifty day simple moving average is $1.77 and its 200 day simple moving average is $3.82.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its earnings results on Friday, May 8th. The company reported ($1.48) earnings per share for the quarter, topping the consensus estimate of ($2.73) by $1.25. On average, analysts anticipate that Adial Pharmaceuticals, Inc. will post -7.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adial Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC grew its position in shares of Adial Pharmaceuticals by 887.3% in the fourth quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock valued at $27,000 after purchasing an additional 109,500 shares in the last quarter. Citadel Advisors LLC bought a new position in Adial Pharmaceuticals in the 3rd quarter worth about $51,000. Finally, Armistice Capital LLC bought a new position in Adial Pharmaceuticals in the 4th quarter worth about $562,000. Institutional investors own 16.41% of the company’s stock.

About Adial Pharmaceuticals

Adial Pharmaceuticals, Inc, incorporated in Delaware and founded in 2003, is a clinical-stage specialty pharmaceutical company dedicated to the development of treatments for addiction disorders and central nervous system conditions. The company’s mission centers on creating novel modalities designed to enhance patient adherence and clinical outcomes, particularly in areas of high unmet medical need. Adial leverages sustained-release delivery technologies to address the challenges associated with oral medication regimens in addiction therapy.

The company’s lead product candidate, AD04, is a bioerodible subcutaneous implant engineered to deliver naltrexone continuously over a multi-month period for individuals with alcohol dependence.