Addex Therapeutics Ltd (NASDAQ:ADXN) Sees Significant Decrease in Short Interest

Addex Therapeutics Ltd (NASDAQ:ADXN) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 5,700 shares, a decline of 34.5% from the December 15th total of 8,700 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 39,100 shares, the short-interest ratio is currently 0.1 days.

Addex Therapeutics Trading Down 3.4 %

Shares of Addex Therapeutics stock opened at $7.39 on Wednesday. Addex Therapeutics has a 1 year low of $6.45 and a 1 year high of $27.90. The company’s fifty day simple moving average is $8.17 and its 200-day simple moving average is $8.90. The company has a market cap of $7.83 million, a price-to-earnings ratio of -21.73 and a beta of 1.76.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Addex Therapeutics in a research note 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.