Short Interest in Addex Therapeutics Ltd (NASDAQ:ADXN) Increases By 149.4%

Addex Therapeutics Ltd (NASDAQ:ADXN) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 21,700 shares, a growth of 149.4% from the March 31st total of 8,700 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily volume of 17,100 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Addex Therapeutics stock. Armistice Capital LLC lifted its position in shares of Addex Therapeutics Ltd (NASDAQ:ADXN) by 103.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 537,000 shares of the company’s stock after purchasing an additional 273,000 shares during the period. Armistice Capital LLC owned 65.33% of Addex Therapeutics worth $206,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 16.14% of the company’s stock.

Addex Therapeutics Stock Performance

NASDAQ ADXN opened at $15.41 on Friday. The stock has a market cap of $16.33 million, a PE ratio of -0.80 and a beta of 1.66. The firm has a 50-day moving average of $14.43 and a 200-day moving average of $9.67. Addex Therapeutics has a 52-week low of $5.00 and a 52-week high of $27.90.

Addex Therapeutics Company Profile

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.