Short Interest in Addex Therapeutics Ltd (NASDAQ:ADXN) Rises By 425.7%

Addex Therapeutics Ltd (NASDAQ:ADXN) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 18,400 shares, an increase of 425.7% from the October 31st total of 3,500 shares. Based on an average trading volume of 305,400 shares, the days-to-cover ratio is presently 0.1 days. Approximately 2.3% of the company’s shares are sold short.

Analyst Ratings Changes

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

Addex Therapeutics Price Performance

Shares of Addex Therapeutics stock traded down $0.16 on Wednesday, reaching $8.62. 24,691 shares of the company were exchanged, compared to its average volume of 97,690. Addex Therapeutics has a 1-year low of $5.00 and a 1-year high of $27.90. The company has a market cap of $9.14 million, a P/E ratio of -25.35 and a beta of 1.78. The stock’s 50 day moving average price is $9.81 and its 200-day moving average price is $9.07.

Addex Therapeutics (NASDAQ:ADXN) last announced its quarterly earnings data on Monday, September 30th. The company reported ($1.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($1.70). Addex Therapeutics had a negative return on equity of 112.43% and a net margin of 850.30%. The company had revenue of $0.13 million for the quarter, compared to analyst estimates of $0.26 million. On average, research analysts predict 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.