Adial Pharmaceuticals (NASDAQ:ADIL) Major Shareholder Coastlands Capital Lp Purchases 25,000 Shares of Stock

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) major shareholder Coastlands Capital Lp bought 25,000 shares of the business’s stock in a transaction on Monday, June 29th. The shares were acquired at an average price of $2.60 per share, with a total value of $65,000.00. Following the completion of the purchase, the insider directly owned 373,322 shares of the company’s stock, valued at approximately $970,637.20. The trade was a 7.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Adial Pharmaceuticals Trading Up 6.8%

Adial Pharmaceuticals stock traded up $0.17 during midday trading on Wednesday, reaching $2.73. The company’s stock had a trading volume of 31,700 shares, compared to its average volume of 280,121. The business has a 50-day moving average price of $2.09 and a 200-day moving average price of $3.16. Adial Pharmaceuticals, Inc. has a 52 week low of $1.31 and a 52 week high of $18.90. The stock has a market cap of $5.85 million, a PE ratio of -0.34 and a beta of 1.46.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its quarterly earnings data on Friday, May 8th. The company reported ($1.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.73) by $1.25.

Analyst Ratings Changes

ADIL has been the subject of a number of analyst reports. Needham & Company LLC downgraded Adial Pharmaceuticals to a “buy” rating in a research report on Monday, June 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Monday, April 20th. Brookline Capital Markets cut shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. Finally, Loop Capital set a $6.00 target price on Adial Pharmaceuticals in a report on Monday, June 15th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Adial Pharmaceuticals has a consensus rating of “Hold” and an average target price of $17.17.

Hedge Funds Weigh In On Adial Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADIL. Jane Street Group LLC increased its holdings in shares of Adial Pharmaceuticals by 887.3% in the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after buying an additional 109,500 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Adial Pharmaceuticals during the third quarter valued at about $51,000. Finally, Armistice Capital LLC bought a new position in Adial Pharmaceuticals during the 4th quarter valued at approximately $562,000. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Adial Pharmaceuticals Company Profile

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.