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

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

Wall Street Analysts Forecast Growth

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

Addex Therapeutics Trading Down 3.7 %

NASDAQ:ADXN opened at $7.52 on Friday. Addex Therapeutics has a 12-month low of $5.60 and a 12-month high of $27.90. The firm has a market cap of $7.97 million, a price-to-earnings ratio of -22.12 and a beta of 1.74. The company’s 50-day moving average is $8.89 and its two-hundred day moving average is $8.93.

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