Short Interest in Addex Therapeutics Ltd (NASDAQ:ADXN) Drops By 16.8%

Addex Therapeutics Ltd (NASDAQ:ADXN) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 15,300 shares, a drop of 16.8% from the November 15th total of 18,400 shares. Based on an average trading volume of 44,300 shares, the short-interest ratio is presently 0.3 days. Currently, 1.9% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

Addex Therapeutics Stock Up 0.6 %

Shares of NASDAQ ADXN opened at $8.00 on Friday. The firm’s 50-day moving average price is $9.40 and its 200-day moving average price is $9.00. Addex Therapeutics has a 52-week low of $5.00 and a 52-week high of $27.90. The company has a market cap of $8.48 million, a PE ratio of -23.53 and a beta of 1.74.

Addex Therapeutics (NASDAQ:ADXN) last released its quarterly earnings results on Monday, September 30th. The company reported ($1.77) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($1.70). Addex Therapeutics had a net margin of 850.30% and a negative return on equity of 112.43%. The firm had revenue of $0.13 million for the quarter, compared to the consensus estimate of $0.26 million. As a group, equities research analysts anticipate that Addex Therapeutics will post 9.8 EPS 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.