Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) Short Interest Up 70.6% in August

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 7,083 shares, a growth of 70.6% from the July 30th total of 4,153 shares. Based on an average daily volume of 848 shares, the days-to-cover ratio is currently 8.4 days. Currently, 0.7% of the company’s shares are sold short.

Addex Therapeutics Price Performance

Shares of NASDAQ:ADXN opened at $3.65 on Wednesday. Addex Therapeutics has a 1-year low of $3.63 and a 1-year high of $12.05. The company has a market capitalization of $4.49 million, a P/E ratio of -0.61 and a beta of 1.47. The firm’s 50 day simple moving average is $5.51 and its two-hundred day simple moving average is $6.30.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Addex Therapeutics in a research report on Monday, July 6th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus 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.