Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Short Interest Down 75.4% in May

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 157,814 shares, a decline of 75.4% from the April 30th total of 642,343 shares. Based on an average trading volume of 156,698 shares, the short-interest ratio is presently 1.0 days. Currently, 11.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Scinai Immunotherapeutics

An institutional investor recently raised its position in Scinai Immunotherapeutics stock. Citadel Advisors LLC grew its position in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,630 shares of the company’s stock after acquiring an additional 17,031 shares during the quarter. Citadel Advisors LLC owned about 0.90% of Scinai Immunotherapeutics worth $36,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 58.41% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Scinai Immunotherapeutics Price Performance

SCNI traded up $0.00 during trading on Friday, hitting $0.45. The company’s stock had a trading volume of 472,796 shares, compared to its average volume of 189,817. Scinai Immunotherapeutics has a twelve month low of $0.41 and a twelve month high of $6.18. The firm has a market capitalization of $1.78 million, a price-to-earnings ratio of -0.05 and a beta of 2.19. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is $0.57 and its 200 day simple moving average is $0.77.

Scinai Immunotherapeutics (NASDAQ:SCNI) last announced its earnings results on Wednesday, April 1st. The company reported $3.80 earnings per share (EPS) for the quarter. The business had revenue of $0.27 million for the quarter.

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.