Scienture Holdings, Inc. (NASDAQ:SCNX) Shares Shorted: Short Interest Down 91.9% in October

Scienture Holdings, Inc. (NASDAQ:SCNX) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 105,863 shares, a decline of 91.9% from the September 30th total of 1,304,235 shares. Based on an average trading volume of 699,440 shares, the short-interest ratio is currently 0.2 days. Approximately 7.4% of the company’s stock are sold short.

Institutional Trading of Scienture

A hedge fund recently bought a new stake in Scienture stock. Susquehanna International Group LLP purchased a new stake in Scienture Holdings, Inc. (NASDAQ:SCNX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 235,117 shares of the company’s stock, valued at approximately $82,000. Susquehanna International Group LLP owned approximately 0.57% of Scienture at the end of the most recent reporting period. 5.68% of the stock is currently owned by hedge funds and other institutional investors.

Scienture Stock Down 1.6%

SCNX stock traded down $0.05 during midday trading on Wednesday, hitting $3.18. 10,858 shares of the stock traded hands, compared to its average volume of 119,736. The stock’s fifty day simple moving average is $6.83 and its 200-day simple moving average is $9.38. Scienture has a 1-year low of $2.64 and a 1-year high of $27.75.

Scienture (NASDAQ:SCNX) last announced its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.25) by $2.18. The company had revenue of $0.34 million during the quarter, compared to analyst estimates of $1.96 million. On average, research analysts forecast that Scienture will post -5.75 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SCNX. Maxim Group set a $6.00 target price on shares of Scienture and gave the stock a “buy” rating in a report on Friday. Weiss Ratings restated a “sell (e+)” rating on shares of Scienture in a research report on Monday, September 21st. Finally, Zacks Research raised shares of Scienture to a “hold” rating in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.00.

Scienture Company Profile

Scienture Holdings, Inc is a specialty pharmaceutical company focused on developing and commercializing medicines for central nervous system disorders. The company seeks to address unmet treatment needs through pharmaceutical products and drug-delivery technologies designed to improve patient convenience and therapeutic use.

Scienture’s areas of interest include conditions such as insomnia, attention-deficit/hyperactivity disorder, anxiety, depression and pain. Its portfolio includes product candidates and commercial opportunities involving alternative delivery formats, including oral formulations and sprays.

The company serves the pharmaceutical market primarily in the United States.