Adial Pharmaceuticals (NASDAQ:ADIL) Stock Price Up 7.6%

Adial Pharmaceuticals Inc (NASDAQ:ADIL) rose 7.6% on Wednesday . The stock traded as high as $1.93 and last traded at $1.69, approximately 334,938 shares changed hands during trading. An increase of 42% from the average daily volume of 235,416 shares. The stock had previously closed at $1.57.

A number of equities research analysts have issued reports on ADIL shares. Zacks Investment Research raised Adial Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. ValuEngine upgraded Adial Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Maxim Group set a $5.00 price objective on Adial Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, June 7th.

The company has a market cap of $15.67 million, a PE ratio of -0.69 and a beta of 0.11. The business’s 50 day moving average is $1.68 and its 200-day moving average is $2.33.

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Geode Capital Management LLC acquired a new stake in Adial Pharmaceuticals Inc (NASDAQ:ADIL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,581 shares of the company’s stock, valued at approximately $69,000. Geode Capital Management LLC owned approximately 0.21% of Adial Pharmaceuticals at the end of the most recent quarter. 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.

Further Reading: What do investors mean by earnings per share?

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