Addex Therapeutics Ltd (NASDAQ:ADXN) Sees Large Drop in Short Interest

Addex Therapeutics Ltd (NASDAQ:ADXN) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 8,700 shares, a decline of 43.1% from the November 30th total of 15,300 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average daily volume of 40,500 shares, the short-interest ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Addex Therapeutics in a research note on Wednesday, October 2nd.

Addex Therapeutics Stock Performance

Shares of ADXN stock traded down $0.29 on Friday, hitting $7.52. The company’s stock had a trading volume of 4,851 shares, compared to its average volume of 92,107. The stock’s 50 day moving average is $8.95 and its 200-day moving average is $8.95. Addex Therapeutics has a fifty-two week low of $5.60 and a fifty-two week high of $27.90. The company has a market capitalization of $7.97 million, a PE ratio of -22.12 and a beta of 1.74.

Addex Therapeutics (NASDAQ:ADXN) last released its quarterly earnings results on Monday, September 30th. The company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($0.07) by ($1.70). The business had revenue of $0.13 million during the quarter, compared to analyst estimates of $0.26 million. Addex Therapeutics had a net margin of 850.30% and a negative return on equity of 112.43%. On average, research analysts forecast that Addex Therapeutics will post 9.8 earnings per share for the current year.

About Addex Therapeutics

Addex Therapeutics Ltd 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 and enzymes. Its lead programs include Dipraglurant for the treatment of Parkinson's disease levodopa-induced dyskinesia and dystonia, and post-stroke/TBI recovery; ADX71149, a novel orally active metabotropic glutamate receptor subtype 2 positive allosteric modulator (mGlu2 PAM) for the treatment of epilepsy; and GABAB PAM for the treatment of pain, anxiety, overactive bladder, and addiction, as well as substance use disorder.