Insider Buying: Adial Pharmaceuticals (NASDAQ:ADIL) Major Shareholder Acquires 10,053 Shares

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) major shareholder Coastlands Capital Lp bought 10,053 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were bought at an average cost of $2.79 per share, for a total transaction of $28,047.87. Following the completion of the acquisition, the insider directly owned 383,375 shares in the company, valued at approximately $1,069,616.25. This trade represents a 2.69% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Coastlands Capital Lp also recently made the following trade(s):

• On Friday, July 10th, Coastlands Capital Lp bought 1,700 shares of Adial Pharmaceuticals stock. The shares were purchased at an average cost of $2.70 per share, with a total value of $4,590.00.
• On Monday, June 29th, Coastlands Capital Lp purchased 25,000 shares of Adial Pharmaceuticals stock. The shares were purchased at an average price of $2.60 per share, with a total value of $65,000.00.

Adial Pharmaceuticals Stock Performance

Shares of NASDAQ ADIL traded up $0.02 during midday trading on Monday, reaching $2.80. The stock had a trading volume of 34,336 shares, compared to its average volume of 267,850. The firm has a market cap of $6.00 million, a price-to-earnings ratio of -0.35 and a beta of 1.43. Adial Pharmaceuticals, Inc. has a twelve month low of $1.31 and a twelve month high of $18.90. The company’s 50 day moving average price is $2.30 and its 200 day moving average price is $2.95.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its quarterly earnings data 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.

Institutional Investors Weigh In On Adial Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Armistice Capital LLC bought a new position in Adial Pharmaceuticals in the 4th quarter valued at about $562,000. Jane Street Group LLC lifted its holdings 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. Finally, Citadel Advisors LLC bought a new position in shares of Adial Pharmaceuticals in the third quarter valued at approximately $51,000. Institutional investors and hedge funds own 16.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Monday, April 20th. Loop Capital set a $6.00 target price on Adial Pharmaceuticals in a research note on Monday, June 15th. Needham & Company LLC lowered Adial Pharmaceuticals to a “buy” rating in a research note on Monday, June 15th. Finally, Brookline Capital Markets cut Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. 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 company’s stock. According to MarketBeat, Adial Pharmaceuticals has an average rating of “Hold” and a consensus target price of $17.17.

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.