Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) Sees Significant Increase in Short Interest

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 46,000 shares, a growth of 3,438.5% from the August 31st total of 1,300 shares. Based on an average daily volume of 23,800 shares, the days-to-cover ratio is presently 1.9 days. Currently, 5.6% of the shares of the stock are sold short. Currently, 5.6% of the shares of the stock are sold short. Based on an average daily volume of 23,800 shares, the days-to-cover ratio is presently 1.9 days.

Hedge Funds Weigh In On Addex Therapeutics

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

Addex Therapeutics Price Performance

NASDAQ ADXN opened at $9.18 on Wednesday. Addex Therapeutics has a 1 year low of $6.51 and a 1 year high of $12.05. The stock has a market capitalization of $9.73 million, a PE ratio of -27.00 and a beta of 1.38. The company’s 50 day simple moving average is $8.48 and its two-hundred day simple moving average is $8.23.

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.