Addex Therapeutics (NASDAQ:ADXN) Trading Up 3.7% – Still a Buy?

Addex Therapeutics Ltd (NASDAQ:ADXN) shares traded up 3.7% on Thursday . The company traded as high as $8.00 and last traded at $7.99. 7,935 shares traded hands during trading, a decline of 92% from the average session volume of 93,681 shares. The stock had previously closed at $7.70.

Addex Therapeutics Stock Performance

The company has a 50-day moving average of $7.78 and a 200-day moving average of $8.83. The stock has a market capitalization of $8.16 million, a price-to-earnings ratio of -22.65 and a beta of 1.76.

Hedge Funds Weigh In On Addex Therapeutics

An institutional investor recently bought a new position in Addex Therapeutics stock. Citadel Advisors LLC acquired a new position in shares of Addex Therapeutics Ltd (NASDAQ:ADXN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,079 shares of the company’s stock, valued at approximately $85,000. Citadel Advisors LLC owned approximately 1.14% of Addex Therapeutics at the end of the most recent quarter. 16.14% of the stock is currently owned by institutional investors and hedge funds.

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.