Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) Shares Shorted: Short Interest Up 205.1% in October

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 5,613 shares, an increase of 205.1% from the September 30th total of 1,840 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average trading volume of 8,301 shares, the days-to-cover ratio is presently 0.7 days.

Addex Therapeutics Trading Up 5.1%

Shares of ADXN stock opened at $3.08 on Friday. The company has a market cap of $3.79 million, a P/E ratio of -0.52 and a beta of 1.52. The firm has a fifty day moving average price of $3.34 and a 200 day moving average price of $5.82. Addex Therapeutics has a 12 month low of $2.56 and a 12 month high of $10.43.

Addex Therapeutics (NASDAQ:ADXN) last posted its quarterly earnings results on Friday, September 25th. The company reported ($1.48) earnings per share for the quarter. The business had revenue of $0.01 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Addex Therapeutics in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, Addex Therapeutics has a consensus rating of “Sell”.

Addex Therapeutics Company Profile

Addex Therapeutics Ltd. (NASDAQ: ADXN) is a clinical-stage biopharmaceutical company headquartered in Geneva, Switzerland. The company focuses on discovering and developing orally available small-molecule therapies that target G protein-coupled receptors (GPCRs), an important class of proteins involved in signaling throughout the nervous system.

Addex’s approach centers on allosteric modulation, which aims to influence receptor activity at sites distinct from where natural signaling molecules bind.