Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Sees Significant Increase in Short Interest

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totaling 642,343 shares, an increase of 780.2% from the April 15th total of 72,973 shares. Currently, 19.3% of the shares of the stock are short sold. Based on an average trading volume of 18,420,264 shares, the days-to-cover ratio is currently 0.0 days.

Analysts Set New Price Targets

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

Scinai Immunotherapeutics Price Performance

NASDAQ SCNI traded up $0.03 during trading on Tuesday, hitting $0.55. 61,310 shares of the company’s stock were exchanged, compared to its average volume of 2,332,274. 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 company has a market cap of $1.94 million, a PE ratio of -0.06 and a beta of 2.19. Scinai Immunotherapeutics has a fifty-two week low of $0.45 and a fifty-two week high of $6.18. The stock’s 50 day moving average price is $0.65 and its two-hundred day moving average price is $0.85.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Scinai Immunotherapeutics stock. Citadel Advisors LLC increased its position in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,630 shares of the company’s stock after buying 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 filing with the Securities and Exchange Commission (SEC). Institutional investors own 58.41% of the company’s stock.

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.