Adial Pharmaceuticals (NASDAQ:ADIL) Trading 7.6% Higher

Adial Pharmaceuticals Inc (NASDAQ:ADIL)’s stock price traded up 7.6% during trading on Wednesday . The stock traded as high as $1.93 and last traded at $1.69, 334,938 shares traded hands during mid-day trading. An increase of 42% from the average session volume of 235,416 shares. The stock had previously closed at $1.57.

Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Adial Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of Adial Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Finally, Maxim Group set a $5.00 price target on shares of Adial Pharmaceuticals and gave the company a “buy” rating in a report on Friday, June 7th.

The firm’s fifty day moving average price is $1.67 and its 200 day moving average price is $2.32. The firm has a market cap of $16.49 million, a P/E ratio of -0.66 and a beta of 0.11.

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Geode Capital Management LLC acquired a new position in Adial Pharmaceuticals Inc (NASDAQ:ADIL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,581 shares of the company’s stock, valued at approximately $69,000. Geode Capital Management LLC owned about 0.21% of Adial Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 5.94% of the company’s stock.

About Adial Pharmaceuticals (NASDAQ:ADIL)

Adial Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic agents for the treatment of alcohol use disorders. Its lead product is AD04, a selective serotonin-3 antagonist that has completed Phase IIb clinical trials for the treatment of nausea and emesis.

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