Addex Therapeutics Ltd (NASDAQ:ADXN) Short Interest Up 9,650.0% in August

Addex Therapeutics Ltd (NASDAQ:ADXN) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 97,500 shares, an increase of 9,650.0% from the August 15th total of 1,000 shares. Based on an average daily trading volume, of 272,700 shares, the days-to-cover ratio is presently 0.4 days. Approximately 11.9% of the shares of the stock are short sold.

Addex Therapeutics Price Performance

ADXN traded up $0.32 during trading on Thursday, reaching $10.62. 7,302 shares of the stock were exchanged, compared to its average volume of 115,024. The company has a market capitalization of $11.26 million, a price-to-earnings ratio of -0.60 and a beta of 1.79. The business’s 50 day moving average price is $8.69 and its two-hundred day moving average price is $10.64. Addex Therapeutics has a 1 year low of $5.00 and a 1 year high of $27.90.

Wall Street Analysts Forecast Growth

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, August 28th.

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.