Adial Pharmaceuticals (NASDAQ:ADIL) Stock Price Down 9.5% – Here’s Why
by Tristan Rich · The Markets DailyAdial Pharmaceuticals, Inc. (NASDAQ:ADIL – Get Free Report) was down 9.5% during mid-day trading on Monday . The stock traded as low as $4.23 and last traded at $4.40. 43,682 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 53,722 shares. The stock had previously closed at $4.86.
Analyst Ratings Changes
A number of research analysts have commented on ADIL shares. Needham & Company LLC cut Adial Pharmaceuticals to a “buy” rating in a research note on Monday, June 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a report on Friday, July 17th. Loop Capital set a $6.00 price target on Adial Pharmaceuticals in a research report on Monday, June 15th. Wall Street Zen upgraded Adial Pharmaceuticals to a “sell” rating in a report on Saturday, August 15th. Finally, Alliance Global Partners initiated coverage on shares of Adial Pharmaceuticals in a research report on Monday, August 3rd. They issued a “buy” rating and a $11.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.62.
View Our Latest Stock Report on ADIL
Adial Pharmaceuticals Stock Performance
The business’s 50 day moving average price is $4.64 and its 200-day moving average price is $2.96. The firm has a market cap of $10.63 million, a price-to-earnings ratio of -0.27 and a beta of 1.38.
Adial Pharmaceuticals (NASDAQ:ADIL – Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($11.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($10.22).
Insider Buying and Selling
In other Adial Pharmaceuticals news, major shareholder Coastlands Capital Lp acquired 25,000 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was purchased at an average price of $2.60 per share, with a total value of $65,000.00. Following the completion of the acquisition, the insider directly owned 373,322 shares in the company, valued at $970,637.20. This trade represents a 7.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 36,753 shares of company stock valued at $97,638 over the last three months. Insiders own 8.00% of the company’s stock.
About Adial Pharmaceuticals
Adial Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for addiction and related disorders. The company’s primary focus is alcohol use disorder, a chronic condition characterized by problematic alcohol consumption and difficulty reducing or stopping use.
Adial’s lead investigational product, AD04, is an oral, genetically targeted therapy based on ondansetron, a selective serotonin-3 receptor antagonist. The company is studying AD04 as a potential treatment for alcohol use disorder in patients identified through genetic or biomarker-based testing.