Societal CDMO, Inc. (NASDAQ:SCTL) Sees Significant Growth in Short Interest

Societal CDMO, Inc. (NASDAQ:SCTL) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 271,500 shares, an increase of 82.8% from the February 29th total of 148,500 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 922,800 shares, the short-interest ratio is currently 0.3 days.

Societal CDMO Stock Down 0.9 %

NASDAQ:SCTL traded down $0.01 during trading hours on Thursday, reaching $1.08. The company’s stock had a trading volume of 907,860 shares, compared to its average volume of 990,017. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.73 and a current ratio of 1.07. The company has a market capitalization of $114.15 million, a P/E ratio of -7.20 and a beta of 1.60. The stock has a 50 day moving average price of $0.71 and a two-hundred day moving average price of $0.50. Societal CDMO has a 12 month low of $0.26 and a 12 month high of $1.28.

Societal CDMO (NASDAQ:SCTL) last posted its earnings results on Friday, March 22nd. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $27.72 million during the quarter, compared to analysts’ expectations of $25.50 million. Societal CDMO had a negative net margin of 14.03% and a negative return on equity of 23.82%. Equities analysts predict that Societal CDMO will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. AWM Investment Company Inc. grew its holdings in Societal CDMO by 14.5% in the second quarter. AWM Investment Company Inc. now owns 10,126,144 shares of the company’s stock worth $11,139,000 after purchasing an additional 1,280,092 shares during the last quarter. HighMark Wealth Management LLC boosted its position in shares of Societal CDMO by 47.4% in the 3rd quarter. HighMark Wealth Management LLC now owns 484,985 shares of the company’s stock worth $227,000 after purchasing an additional 155,997 shares in the last quarter. Clear Harbor Asset Management LLC grew its stake in Societal CDMO by 174.5% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 938,847 shares of the company’s stock worth $440,000 after buying an additional 596,883 shares during the last quarter. BlackRock Inc. acquired a new position in Societal CDMO during the 3rd quarter valued at about $645,000. Finally, Geode Capital Management LLC raised its stake in Societal CDMO by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 382,339 shares of the company’s stock valued at $569,000 after buying an additional 9,035 shares during the last quarter. Institutional investors own 87.15% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $1.10 price target (down previously from $1.25) on shares of Societal CDMO in a research report on Thursday, February 29th.

About Societal CDMO

Societal CDMO, Inc, a contract development and manufacturing organization, engages in the research and development, manufacturing, and packaging for various therapeutic dosage forms primarily in the small molecules in the United States and internationally. The company provides end-to-end services, such as formulation development focusing on complex formulations, reformulation, physical characterization, and excipient compatibility; analytical methods development which offers a range of analytical testing capabilities, including product testing, ICH stability, method development and validation, chromatography and spectroscopy equipment, stability chambers, and microbial testing; and pharmaceutical manufacturing that provides milling, blending, compression, spray and rotary granulation, particle and bead coating, encapsulation, liquids, lyophilization, and sterile fill and finish services.