Short Interest in Addex Therapeutics Ltd (NASDAQ:ADXN) Expands By 425.7%

Addex Therapeutics Ltd (NASDAQ:ADXN) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 18,400 shares, an increase of 425.7% from the October 31st total of 3,500 shares. Based on an average daily trading volume, of 305,400 shares, the days-to-cover ratio is currently 0.1 days. Currently, 2.3% of the company’s stock are sold short.

Addex Therapeutics Price Performance

ADXN opened at $8.62 on Friday. The company has a market capitalization of $9.14 million, a price-to-earnings ratio of -5.26 and a beta of 1.78. Addex Therapeutics has a 1-year low of $5.00 and a 1-year high of $27.90. The business has a 50 day moving average price of $9.79 and a two-hundred day moving average price of $9.07.

Addex Therapeutics (NASDAQ:ADXN) last posted its quarterly earnings results on Monday, September 30th. The company reported ($1.77) earnings per share (EPS) 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 company had revenue of $0.13 million during the quarter, compared to the consensus estimate of $0.26 million. Equities analysts expect that Addex Therapeutics will post 9.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Addex Therapeutics Company Profile

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.