Addex Therapeutics (NASDAQ:ADXN) Shares Down 6.5% – What’s Next?

Shares of Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) traded down 6.5% on Tuesday . The company traded as low as $9.03 and last traded at $9.04. 8,491 shares were traded during mid-day trading, a decline of 86% from the average session volume of 62,556 shares. The stock had previously closed at $9.66.

Addex Therapeutics Stock Performance

The company has a 50-day moving average price of $8.38 and a 200-day moving average price of $8.17. The firm has a market capitalization of $9.58 million, a P/E ratio of -26.57 and a beta of 1.38.

Hedge Funds Weigh In On Addex Therapeutics

An institutional investor recently raised its position in Addex Therapeutics stock. GAMMA Investing LLC grew its stake in Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) by 766.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,757 shares of the company’s stock after acquiring an additional 7,746 shares during the quarter. GAMMA Investing LLC owned 0.83% of Addex Therapeutics worth $64,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 16.14% of the company’s stock.

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.