Short Interest in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Expands By 2,371.8%

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the recipient of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 46,346 shares, an increase of 2,371.8% from the February 12th total of 1,875 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 20,337 shares, the short-interest ratio is currently 2.3 days. Based on an average daily trading volume, of 20,337 shares, the short-interest ratio is currently 2.3 days. Currently, 1.4% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Scinai Immunotherapeutics Stock Performance

NASDAQ SCNI traded up $0.01 during trading hours on Tuesday, hitting $0.75. 5,413 shares of the company’s stock traded hands, compared to its average volume of 50,722. Scinai Immunotherapeutics has a 52 week low of $0.61 and a 52 week high of $6.18. The business’s fifty day moving average price is $0.84 and its two-hundred day moving average price is $1.11.

Hedge Funds Weigh In On Scinai Immunotherapeutics

An institutional investor recently raised its position in Scinai Immunotherapeutics stock. Citadel Advisors LLC boosted its stake in shares of Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,630 shares of the company’s stock after purchasing an additional 17,031 shares during the period. Citadel Advisors LLC owned about 0.90% of Scinai Immunotherapeutics worth $36,000 at the end of the most recent quarter. 58.41% of the stock is owned by institutional investors and hedge funds.

Scinai Immunotherapeutics Company Profile

Scinai Immunotherapeutics Inc is a clinical-stage biotechnology company dedicated to developing novel small-molecule therapies that enhance the immune system’s capacity to recognize and destroy cancer cells. The company’s research emphasizes checkpoint modulation and the discovery of compounds designed to work in concert with established immuno-oncology treatments across a range of solid tumors.

Scinai’s pipeline comprises preclinical and early-stage candidates, and the company relies on collaborations with academic institutions and contract research organizations to advance its discovery and development efforts.