Addex Therapeutics Ltd. Sponsored ADR (NASDAQ: ADXN) experienced a significant rise in short interest as of December 15, 2023. The total short interest reached 9,599 shares, marking an increase of 86.7% from the previous month’s total of 5,141 shares. Currently, short sales account for 0.9% of the company’s total shares.
With an average daily trading volume of 8,344 shares, the days-to-cover ratio stands at approximately 1.2 days. This metric indicates the number of days it would take for short sellers to cover their positions based on current trading activity, providing insight into investor sentiment around the stock.
Analyst Ratings and Company Performance
In a recent report dated October 14, Weiss Ratings reiterated a “sell (e+)” rating for Addex Therapeutics. This aligns with the consensus view among analysts, with one research analyst currently rating the stock as a Sell, according to data from MarketBeat. The overall sentiment surrounding the stock reflects cautiousness in light of recent performance metrics.
Addex Therapeutics released its quarterly earnings report on December 4, 2023, revealing a loss of $1.51 earnings per share (EPS) for the quarter. The company reported revenue of just $0.04 million, highlighting ongoing challenges in generating significant income. Notably, Addex recorded a net margin of 3,584.49% and a negative return on equity of 80.69%, emphasizing the financial hurdles it faces.
About Addex Therapeutics
Founded in 1999 and headquartered in Geneva, Switzerland, Addex Therapeutics is a clinical-stage biopharmaceutical firm focused on the discovery and development of small-molecule allosteric modulators. The company specializes in targeting metabotropic glutamate (mGlu) receptors and GABAB receptors to address significant unmet medical needs in neurology and psychiatry.
Addex’s lead candidate, dipraglurant (ADX48621), is currently in clinical development for treating levodopa-induced dyskinesia associated with Parkinson’s disease. The company maintains a research presence in Cambridge, Massachusetts, further solidifying its commitment to innovation in the pharmaceutical space.
As investor interest remains cautious, Addex Therapeutics is positioned at a critical juncture, with its future performance closely monitored by analysts and shareholders alike.
