Short Interest in Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) Increases By 351.4%

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 4,153 shares, a growth of 351.4% from the July 15th total of 920 shares. Based on an average daily trading volume, of 1,093 shares, the days-to-cover ratio is presently 3.8 days. Currently, 0.4% of the company’s shares are short sold.

Addex Therapeutics Stock Performance

Addex Therapeutics stock opened at $5.85 on Wednesday. Addex Therapeutics has a 1 year low of $5.04 and a 1 year high of $12.05. The firm has a 50 day moving average price of $6.02 and a 200 day moving average price of $6.63. The company has a market cap of $7.21 million, a price-to-earnings ratio of -0.99 and a beta of 1.50.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Addex Therapeutics in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

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.