Short Interest in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Declines By 88.3%
by Doug Wharley · The Cerbat GemScinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI – Get Free Report) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 8,238 shares, a decline of 88.3% from the August 15th total of 70,257 shares. Based on an average trading volume of 121,374 shares, the days-to-cover ratio is currently 0.1 days. Currently, 3.0% of the company’s stock are short sold.
Institutional Trading of Scinai Immunotherapeutics
An institutional investor recently raised its position in Scinai Immunotherapeutics stock. Citadel Advisors LLC lifted its holdings in shares of Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI – Free Report) by 146.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,630 shares of the company’s stock after purchasing an additional 17,031 shares during the quarter. Citadel Advisors LLC owned approximately 0.90% of Scinai Immunotherapeutics worth $36,000 as of its most recent SEC filing. 58.41% of the stock is owned by institutional investors.
Scinai Immunotherapeutics Stock Down 0.6%
Shares of SCNI traded down $0.01 during midday trading on Friday, reaching $1.66. 3,225,233 shares of the stock were exchanged, compared to its average volume of 176,309. The company has a market cap of $1.18 million, a price-to-earnings ratio of -0.02 and a beta of 2.08. The company has a quick ratio of 1.35, a current ratio of 1.56 and a debt-to-equity ratio of 0.05. Scinai Immunotherapeutics has a 12-month low of $1.60 and a 12-month high of $16.40. The firm has a 50 day simple moving average of $2.47 and a 200-day simple moving average of $4.44.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.
View Our Latest Research Report on SCNI
About Scinai Immunotherapeutics
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.