Shares of Adial Pharmaceuticals Inc (NASDAQ:ADIL) traded down 8.8% on Friday . The company traded as low as $3.30 and last traded at $3.31. 519,280 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 629,270 shares. The stock had previously closed at $3.63.

A number of analysts recently weighed in on the stock. ValuEngine downgraded shares of Adial Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, December 21st. Maxim Group reiterated a “buy” rating and issued a $5.00 price target on shares of Adial Pharmaceuticals in a research report on Thursday, December 13th.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Adial Pharmaceuticals during the 4th quarter worth approximately $1,053,000. Geode Capital Management LLC acquired a new stake in Adial Pharmaceuticals during the 4th quarter worth approximately $69,000. Finally, Two Sigma Investments LP acquired a new stake in Adial Pharmaceuticals during the 4th quarter worth approximately $60,000. Institutional investors and hedge funds own 3.80% of the company’s stock.

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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.

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