Addex Therapeutics Ltd (NASDAQ:ADXN) Short Interest Up 18.2% in May

Addex Therapeutics Ltd (NASDAQ:ADXN) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 6,500 shares, a growth of 18.2% from the May 15th total of 5,500 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average trading volume of 19,300 shares, the days-to-cover ratio is presently 0.3 days.

Addex Therapeutics Trading Down 7.2 %

Addex Therapeutics stock opened at $7.99 on Tuesday. The firm has a market cap of $8.47 million, a P/E ratio of -0.46 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 firm has a 50-day moving average of $12.33 and a 200-day moving average of $10.36.

Addex Therapeutics (NASDAQ:ADXN) last released its quarterly earnings results on Thursday, June 6th. The company reported ($1.37) EPS for the quarter. The business had revenue of $0.27 million for the quarter. Addex Therapeutics had a negative net margin of 818.50% and a negative return on equity of 364.24%. Research analysts forecast that Addex Therapeutics will post -11.8 earnings per share for the current fiscal year.

Institutional Trading of Addex Therapeutics

An institutional investor recently raised its position in Addex Therapeutics stock. Armistice Capital LLC grew its stake in shares of Addex Therapeutics Ltd (NASDAQ:ADXN) by 103.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 537,000 shares of the company’s stock after purchasing an additional 273,000 shares during the period. Armistice Capital LLC owned approximately 65.33% of Addex Therapeutics worth $206,000 as of its most recent SEC filing. Institutional investors and hedge funds own 16.14% of the company’s stock.

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.