Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) Sees Large Drop in Short Interest

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 920 shares, a drop of 39.0% from the June 30th total of 1,509 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 1,787 shares, the short-interest ratio is presently 0.5 days.

Analyst Ratings Changes

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

Addex Therapeutics Stock Performance

ADXN opened at $5.64 on Thursday. The company has a fifty day moving average of $6.23 and a two-hundred day moving average of $6.79. The stock has a market capitalization of $6.94 million, a price-to-earnings ratio of -0.95 and a beta of 1.50. Addex Therapeutics has a fifty-two week low of $5.41 and a fifty-two week high of $12.05.

About Addex Therapeutics

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.