Addex Therapeutics (NASDAQ:ADXN) Trading Down 5.9% – Time to Sell?

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) shares traded down 5.9% during trading on Thursday . The stock traded as low as $5.72 and last traded at $5.91. 8,666 shares were traded during mid-day trading, an increase of 166% from the average session volume of 3,263 shares. The stock had previously closed at $6.28.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Addex Therapeutics in a report on Friday, January 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Addex Therapeutics Stock Performance

The company has a market capitalization of $7.27 million, a P/E ratio of -1.03 and a beta of 1.48. The company has a 50-day simple moving average of $7.09 and a 200 day simple moving average of $8.06.

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.