SciSparc Ltd. (NASDAQ:SPRC) Short Interest Up 411.9% in January

SciSparc Ltd. (NASDAQ:SPRC) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 795,500 shares, a growth of 411.9% from the December 31st total of 155,400 shares. Approximately 7.7% of the company’s stock are short sold. Based on an average daily volume of 7,930,000 shares, the days-to-cover ratio is currently 0.1 days.

SciSparc Price Performance

NASDAQ SPRC traded up $0.01 during trading hours on Tuesday, hitting $0.52. The company’s stock had a trading volume of 205,640 shares, compared to its average volume of 13,874,174. SciSparc has a 52 week low of $0.20 and a 52 week high of $6.78. The company’s 50-day simple moving average is $0.42 and its two-hundred day simple moving average is $0.37.

Institutional Investors Weigh In On SciSparc

A hedge fund recently bought a new stake in SciSparc stock. Renaissance Technologies LLC purchased a new position in shares of SciSparc Ltd. (NASDAQ:SPRC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 39,700 shares of the company’s stock, valued at approximately $32,000. Renaissance Technologies LLC owned about 5.59% of SciSparc as of its most recent SEC filing. Institutional investors own 25.06% of the company’s stock.

SciSparc Company Profile

SciSparc Ltd., a clinical-stage pharmaceutical company, develops drugs based on cannabinoid therapies. Its drug development programs include SCI-110 for the treatment of Tourette syndrome and Alzheimer's disease and agitation; SCI-160 for the treatment of pain; SCI-210 for the treatment of autism spectrum disorder and status epilepticus; and CannAmide, an anti-inflammatory and chronic pain solution.