Key Points
- Coastlands Capital Lp, Adial Pharmaceuticals’ major shareholder, bought 25,000 shares at $2.60 each, totaling $65,000. The purchase increased its stake by 7.18% to 373,322 shares.
- Adial Pharmaceuticals stock was reported up 9.8% and opened at $2.81. The company has a small market cap of about $6.01 million and a wide 52-week range of $1.31 to $18.90.
- The company recently beat earnings estimates, posting ($1.48) EPS versus expectations of ($2.73). Analyst sentiment is mixed, with an overall Hold rating and an average target price of $17.17.
Adial Pharmaceuticals, Inc. (NASDAQ:ADIL - Get Free Report) major shareholder Coastlands Capital Lp purchased 25,000 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was bought at an average cost of $2.60 per share, for a total transaction of $65,000.00. Following the purchase, the insider owned 373,322 shares in the company, valued at $970,637.20. This represents a 7.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Adial Pharmaceuticals Stock Up 9.8%
Shares of Adial Pharmaceuticals stock opened at $2.81 on Thursday. The stock has a market capitalization of $6.01 million, a P/E ratio of -0.35 and a beta of 1.43. Adial Pharmaceuticals, Inc. has a 12-month low of $1.31 and a 12-month high of $18.90. The company has a 50-day simple moving average of $2.12 and a 200 day simple moving average of $3.13.
Adial Pharmaceuticals (NASDAQ:ADIL - Get Free Report) last posted its earnings results on Friday, May 8th. The company reported ($1.48) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.73) by $1.25.
Analyst Ratings Changes
Several equities analysts have recently issued reports on ADIL shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Adial Pharmaceuticals in a research note on Monday, April 20th. Needham & Company LLC cut Adial Pharmaceuticals to a "buy" rating in a report on Monday, June 15th. Loop Capital set a $6.00 price objective on shares of Adial Pharmaceuticals in a research report on Monday, June 15th. Finally, Brookline Capital Markets lowered shares of Adial Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $17.17.
Get Our Latest Stock Report on ADIL
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of ADIL. Jane Street Group LLC increased its position in Adial Pharmaceuticals by 887.3% during 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 period. Citadel Advisors LLC acquired a new position in Adial Pharmaceuticals during the third quarter valued at approximately $51,000. Finally, Armistice Capital LLC bought a new stake in shares of Adial Pharmaceuticals during the 4th quarter worth $562,000. Institutional investors and hedge funds own 16.41% of the company's stock.
Adial Pharmaceuticals Company Profile
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
