Short Interest in Addex Therapeutics Ltd (NASDAQ:ADXN) Decreases By 27.7%

Addex Therapeutics Ltd (NASDAQ:ADXN) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 4,700 shares, a decrease of 27.7% from the May 31st total of 6,500 shares. Based on an average daily volume of 18,600 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.6% of the company’s stock are sold short.

Addex Therapeutics Trading Up 0.7 %

Shares of ADXN stock opened at $8.22 on Friday. The company has a market capitalization of $8.71 million, a PE ratio of -0.48 and a beta of 1.78. The firm has a fifty day simple moving average of $9.43 and a 200-day simple moving average of $10.44. Addex Therapeutics has a twelve month low of $5.00 and a twelve month high of $27.90.

Addex Therapeutics (NASDAQ:ADXN) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($1.37) EPS for the quarter. Addex Therapeutics had a negative net margin of 818.50% and a negative return on equity of 364.24%. The company had revenue of $0.27 million for the quarter. Equities research analysts predict that Addex Therapeutics will post -11.8 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Addex Therapeutics stock. Armistice Capital LLC lifted its holdings in Addex Therapeutics Ltd (NASDAQ:ADXN) by 103.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 537,000 shares of the company’s stock after buying an additional 273,000 shares during the quarter. Armistice Capital LLC owned approximately 65.33% of Addex Therapeutics worth $206,000 as of its most recent filing with the SEC. 16.14% of the stock is owned by institutional investors.

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.