Short Interest in Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) Declines By 41.6%

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 4,133 shares, a drop of 41.6% from the August 15th total of 7,083 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 656,208 shares, the short-interest ratio is presently 0.0 days.

Addex Therapeutics Price Performance

Shares of NASDAQ:ADXN opened at $3.36 on Thursday. The stock has a market cap of $4.13 million, a price-to-earnings ratio of -0.57 and a beta of 1.47. The company has a 50 day moving average of $4.98 and a 200-day moving average of $6.01. Addex Therapeutics has a one year low of $3.10 and a one year high of $11.97.

Wall Street Analyst Weigh In

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

Addex Therapeutics Company Profile

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.