Short Interest in Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) Rises By 70.6%

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 7,083 shares, a growth of 70.6% from the July 30th total of 4,153 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 848 shares, the days-to-cover ratio is presently 8.4 days.

Addex Therapeutics Stock Performance

Shares of ADXN stock opened at $3.88 on Monday. Addex Therapeutics has a fifty-two week low of $3.73 and a fifty-two week high of $12.05. The stock’s fifty day moving average is $5.60 and its two-hundred day moving average is $6.36. The firm has a market capitalization of $4.77 million, a P/E ratio of -0.65 and a beta of 1.50.

Wall Street Analyst Weigh In

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

About Addex Therapeutics

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.