Addex Therapeutics (NASDAQ:ADXN) Share Price Breaks Above 50-Day Moving Average – Here’s Why

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN)’s share price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $3.20 and traded as high as $6.50. Addex Therapeutics shares last traded at $5.29, with a volume of 22,130,279 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Addex Therapeutics in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Addex Therapeutics Price Performance

The business’s fifty day moving average price is $3.20 and its 200-day moving average price is $5.59. The stock has a market capitalization of $6.51 million, a PE ratio of -0.89 and a beta of 1.58.

Addex Therapeutics (NASDAQ:ADXN) last released its quarterly earnings results on Friday, September 25th. The company reported ($1.48) earnings per share for the quarter. The firm had revenue of $0.01 million for the quarter.

Addex Therapeutics Company Profile

Addex Therapeutics Ltd. (NASDAQ: ADXN) is a clinical-stage biopharmaceutical company headquartered in Geneva, Switzerland. The company focuses on discovering and developing orally available small-molecule therapies that target G protein-coupled receptors (GPCRs), an important class of proteins involved in signaling throughout the nervous system. Addex’s approach centers on allosteric modulation, which aims to influence receptor activity at sites distinct from where natural signaling molecules bind.