Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) Sees Large Decline in Short Interest

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) was the recipient of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 920 shares, a decline of 39.0% from the June 30th total of 1,509 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 1,787 shares, the short-interest ratio is currently 0.5 days.

Addex Therapeutics Price Performance

Shares of ADXN stock traded up $0.24 during trading on Friday, reaching $5.83. The company’s stock had a trading volume of 2,694 shares, compared to its average volume of 4,904. The company has a market capitalization of $7.19 million, a price-to-earnings ratio of -0.98 and a beta of 1.50. Addex Therapeutics has a 1-year low of $5.41 and a 1-year high of $12.05. The stock’s 50-day moving average price is $6.20 and its 200 day moving average price is $6.77.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Addex Therapeutics in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Addex Therapeutics Company Profile

Addex Therapeutics SA is a clinical-stage biopharmaceutical company specializing in the discovery and development of small-molecule allosteric modulators for central nervous system disorders. Founded in 1999 and headquartered in Geneva, Switzerland, with a U.S. research presence in Cambridge, Massachusetts, the company focuses on targeting metabotropic glutamate (mGlu) receptors and GABAB receptors to address unmet medical needs in neurology and psychiatry.

The company’s lead candidate, dipraglurant (ADX48621), is an mGlu5 negative allosteric modulator in clinical development for levodopa-induced dyskinesia in Parkinson’s disease.