Short Interest in Scienture Holdings, Inc. (NASDAQ:SCNX) Drops By 36.4%

Scienture Holdings, Inc. (NASDAQ:SCNX) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totaling 1,022,272 shares, a drop of 36.4% from the August 15th total of 1,607,698 shares. Based on an average daily volume of 400,597 shares, the short-interest ratio is currently 2.6 days. Approximately 3.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Scienture

A hedge fund recently bought a new stake in Scienture stock. Susquehanna International Group LLP acquired a new stake in Scienture Holdings, Inc. (NASDAQ:SCNX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 235,117 shares of the company’s stock, valued at approximately $82,000. Susquehanna International Group LLP owned about 0.57% of Scienture as of its most recent SEC filing. 5.68% of the stock is currently owned by institutional investors.

Scienture Price Performance

NASDAQ SCNX opened at $0.31 on Friday. The firm’s fifty day simple moving average is $0.39 and its two-hundred day simple moving average is $0.39. The firm has a market capitalization of $12.87 million, a P/E ratio of -0.15 and a beta of 3.25. The company has a current ratio of 3.04, a quick ratio of 2.97 and a debt-to-equity ratio of 0.15. Scienture has a 12-month low of $0.24 and a 12-month high of $2.60.

Scienture (NASDAQ:SCNX) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The business had revenue of $0.34 million during the quarter, compared to analyst estimates of $1.96 million.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Scienture in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $1.50.

About Scienture

Scienture Holdings, Inc is a specialty pharmaceutical company focused on developing and commercializing therapies for central nervous system and other underserved medical conditions. The company’s strategy centers on differentiated medicines designed to address unmet patient and caregiver needs, including alternative formulations and delivery options.

Scienture’s lead product is ONYDA XR (clonidine hydrochloride) extended-release oral suspension, a non-stimulant prescription treatment for attention-deficit/hyperactivity disorder (ADHD).