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

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 4,133 shares, a decrease of 41.6% from the August 15th total of 7,083 shares. Based on an average daily volume of 656,208 shares, the short-interest ratio is presently 0.0 days. Currently, 0.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

Addex Therapeutics Stock Performance

Addex Therapeutics stock opened at $3.36 on Friday. The firm has a 50-day moving average price of $4.93 and a 200-day moving average price of $5.98. The firm has a market capitalization of $4.14 million, a PE ratio of -0.57 and a beta of 1.47. Addex Therapeutics has a 12-month low of $3.10 and a 12-month high of $11.97.

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.