Societal CDMO, Inc. (NASDAQ:SCTL – Get Free Report) rose 0.9% on Friday . The stock traded as high as $1.10 and last traded at $1.10. Approximately 514,600 shares were traded during trading, a decline of 46% from the average daily volume of 957,342 shares. The stock had previously closed at $1.09.
Wall Street Analysts Forecast Growth
Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $1.10 price objective (down from $1.25) on shares of Societal CDMO in a research report on Thursday, February 29th.
View Our Latest Stock Report on SCTL
Societal CDMO Stock Up 0.9 %
Societal CDMO (NASDAQ:SCTL – Get Free Report) last announced its quarterly earnings data on Friday, March 22nd. The company reported ($0.01) earnings per share for the quarter. Societal CDMO had a negative net margin of 14.03% and a negative return on equity of 23.82%. The business had revenue of $27.72 million during the quarter, compared to analyst estimates of $25.50 million. Sell-side analysts expect that Societal CDMO, Inc. will post -0.08 earnings per share for the current year.
Institutional Investors Weigh In On Societal CDMO
Several large investors have recently made changes to their positions in the stock. AWM Investment Company Inc. increased its position in shares of Societal CDMO by 1.4% during the third quarter. AWM Investment Company Inc. now owns 10,266,144 shares of the company’s stock worth $4,815,000 after acquiring an additional 140,000 shares in the last quarter. Clear Harbor Asset Management LLC increased its position in shares of Societal CDMO by 174.5% during the third quarter. Clear Harbor Asset Management LLC now owns 938,847 shares of the company’s stock worth $440,000 after acquiring an additional 596,883 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in Societal CDMO by 26.8% in the first quarter. Global Retirement Partners LLC now owns 71,462 shares of the company’s stock valued at $77,000 after purchasing an additional 15,112 shares in the last quarter. Institutional investors own 87.15% of the company’s stock.
Societal CDMO Company Profile
Societal CDMO, Inc, a contract development and manufacturing organization, engages in the research and development, manufacturing, and packaging for various therapeutic dosage forms primarily in the small molecules in the United States and internationally. The company provides end-to-end services, such as formulation development focusing on complex formulations, reformulation, physical characterization, and excipient compatibility; analytical methods development which offers a range of analytical testing capabilities, including product testing, ICH stability, method development and validation, chromatography and spectroscopy equipment, stability chambers, and microbial testing; and pharmaceutical manufacturing that provides milling, blending, compression, spray and rotary granulation, particle and bead coating, encapsulation, liquids, lyophilization, and sterile fill and finish services.
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