Short Interest in Addex Therapeutics Ltd (NASDAQ:ADXN) Decreases By 26.9%

Addex Therapeutics Ltd (NASDAQ:ADXN) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 8,700 shares, a decline of 26.9% from the March 15th total of 11,900 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily volume of 17,000 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. J. Stern & Co. LLP acquired a new position in shares of Addex Therapeutics during the fourth quarter worth $652,000. Armistice Capital LLC raised its holdings in shares of Addex Therapeutics by 103.4% during the third quarter. Armistice Capital LLC now owns 537,000 shares of the company’s stock worth $206,000 after purchasing an additional 273,000 shares during the period. Finally, OLD Mission Capital LLC raised its holdings in shares of Addex Therapeutics by 145.0% during the first quarter. OLD Mission Capital LLC now owns 65,720 shares of the company’s stock worth $62,000 after purchasing an additional 38,898 shares during the period. 16.14% of the stock is owned by institutional investors and hedge funds.

Addex Therapeutics Trading Down 2.2 %

NASDAQ ADXN opened at $25.57 on Friday. The company’s fifty day simple moving average is $12.73 and its 200-day simple moving average is $8.89. Addex Therapeutics has a 52 week low of $5.00 and a 52 week high of $27.90. The stock has a market cap of $25.31 million, a P/E ratio of -1.33 and a beta of 1.66.

About Addex Therapeutics

Addex Therapeutics Ltd, a development-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule pharmaceutical products for central nervous system (CNS) disorders in Switzerland. The company focuses on the discovery of G-protein coupled receptors. Its lead programs include Dipraglurant for the treatment of Parkinson's disease levodopa-induced dyskinesia, and dystonia; ADX71149 for epilepsy and undisclosed CNS disorders; and GABAB PAM for pain, anxiety, and addiction.