Addex Therapeutics (NASDAQ:ADXN) Shares Down 3% – Here’s Why

Addex Therapeutics Ltd (NASDAQ:ADXN)’s stock price dropped 3% on Wednesday . The stock traded as low as $7.49 and last traded at $7.80. Approximately 3,554 shares changed hands during trading, a decline of 87% from the average daily volume of 27,985 shares. The stock had previously closed at $8.04.

Addex Therapeutics Price Performance

The company has a market cap of $8.27 million, a price-to-earnings ratio of -22.94 and a beta of 1.77. The business’s 50-day simple moving average is $7.84 and its 200-day simple moving average is $8.85.

Addex Therapeutics (NASDAQ:ADXN) last issued its quarterly earnings data on Friday, November 22nd. The company reported ($2.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.40) by ($1.37). Addex Therapeutics had a negative return on equity of 112.43% and a net margin of 850.30%.

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.