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

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

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Addex Therapeutics in a report on Wednesday, October 2nd.

Addex Therapeutics Stock Up 2.6 %

Shares of ADXN opened at $7.59 on Thursday. Addex Therapeutics has a 52-week low of $6.45 and a 52-week high of $27.90. The company has a 50-day simple moving average of $8.17 and a 200-day simple moving average of $8.90. The company has a market capitalization of $8.04 million, a PE ratio of -22.31 and a beta of 1.76.

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.