Short Interest in Addex Therapeutics Ltd (NASDAQ:ADXN) Drops By 64.6%

Addex Therapeutics Ltd (NASDAQ:ADXN) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 3,500 shares, a drop of 64.6% from the October 15th total of 9,900 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily volume of 294,000 shares, the days-to-cover ratio is currently 0.0 days.

Addex Therapeutics Price Performance

Addex Therapeutics stock traded down $1.56 during mid-day trading on Tuesday, reaching $9.22. The stock had a trading volume of 59,630 shares, compared to its average volume of 99,025. Addex Therapeutics has a one year low of $5.00 and a one year high of $27.90. The company has a 50-day moving average price of $10.35 and a two-hundred day moving average price of $9.17. The company has a market capitalization of $9.77 million, a price-to-earnings ratio of -6.57 and a beta of 1.78.

Addex Therapeutics (NASDAQ:ADXN) last issued its 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 for 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%. On average, equities research analysts anticipate that Addex Therapeutics will post 9.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Addex Therapeutics in a 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.