Addex Therapeutics Ltd (NASDAQ:ADXN) Short Interest Up 41.7% in March

Addex Therapeutics Ltd (NASDAQ:ADXN) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 11,900 shares, an increase of 41.7% from the February 29th total of 8,400 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average trading volume of 9,600 shares, the days-to-cover ratio is presently 1.2 days.

Addex Therapeutics Stock Performance

Shares of ADXN opened at $12.80 on Friday. Addex Therapeutics has a one year low of $5.00 and a one year high of $23.40. The stock’s fifty day moving average is $10.60 and its 200-day moving average is $8.01. The firm has a market capitalization of $12.67 million, a price-to-earnings ratio of -0.66 and a beta of 1.62.

Hedge Funds Weigh In On Addex Therapeutics

Several large investors have recently bought and sold shares of the stock. OLD Mission Capital LLC increased its position in shares of Addex Therapeutics by 145.0% during the 1st quarter. OLD Mission Capital LLC now owns 65,720 shares of the company’s stock valued at $62,000 after purchasing an additional 38,898 shares during the period. Armistice Capital LLC boosted its stake in Addex Therapeutics by 103.4% during the third quarter. Armistice Capital LLC now owns 537,000 shares of the company’s stock valued at $206,000 after buying an additional 273,000 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new position in Addex Therapeutics during the fourth quarter worth about $652,000. Institutional investors and hedge funds own 16.14% of the company’s stock.

About Addex Therapeutics

Addex Therapeutics Ltd, a development-stage biopharmaceutical company, 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. Its lead programs include Dipraglurant for the treatment of Parkinson's disease levodopa-induced dyskinesia, and dystonia; ADX71149 for epilepsy and undisclosed CNS disorders; and GABAB PAM for pain, anxiety, and addiction.