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

Addex Therapeutics Ltd (NASDAQ:ADXN) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 9,600 shares, a decrease of 62.2% from the September 15th total of 25,400 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 281,900 shares, the days-to-cover ratio is currently 0.0 days.

Addex Therapeutics Stock Down 0.8 %

Shares of Addex Therapeutics stock opened at $10.26 on Friday. The firm has a market capitalization of $10.88 million, a P/E ratio of -6.26 and a beta of 1.79. The company has a 50 day moving average price of $9.41 and a 200 day moving average price of $10.49. Addex Therapeutics has a 52 week low of $5.00 and a 52 week high of $27.90.

Addex Therapeutics (NASDAQ:ADXN) last announced its quarterly earnings data on Monday, September 30th. The company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($0.07) by ($1.70). The company had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $0.26 million. Addex Therapeutics had a net margin of 463.11% and a negative return on equity of 190.29%. As a group, research analysts anticipate that Addex Therapeutics will post 0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.