Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Short Interest Down 69.8% in June

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 26,939 shares, a decrease of 69.8% from the June 15th total of 89,259 shares. Based on an average daily volume of 337,966 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Scinai Immunotherapeutics stock. Citadel Advisors LLC raised its position in shares of Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,630 shares of the company’s stock after purchasing an additional 17,031 shares during the quarter. Citadel Advisors LLC owned 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 and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Scinai Immunotherapeutics Stock Performance

Shares of SCNI traded down $0.01 during mid-day trading on Friday, hitting $0.25. 37,699 shares of the company traded hands, compared to its average volume of 386,794. The stock has a market cap of $992,772.00, a price-to-earnings ratio of -0.24 and a beta of 2.11. The stock has a 50-day moving average price of $0.40 and a two-hundred day moving average price of $0.63. Scinai Immunotherapeutics has a 1 year low of $0.24 and a 1 year high of $3.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.35 and a current ratio of 1.35.

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