Societal CDMO (NASDAQ:SCTL) Announces Earnings Results

Societal CDMO (NASDAQ:SCTL) announced its quarterly earnings results on Friday. The company reported ($0.01) earnings per share for the quarter, Yahoo Finance reports. Societal CDMO had a negative net margin of 23.75% and a negative return on equity of 25.04%. The company had revenue of $27.72 million during the quarter, compared to the consensus estimate of $25.50 million.

Societal CDMO Stock Performance

Shares of SCTL stock opened at $1.09 on Friday. The company’s fifty day simple moving average is $0.65 and its 200-day simple moving average is $0.48. The company has a quick ratio of 1.73, a current ratio of 2.30 and a debt-to-equity ratio of 0.47. The firm has a market cap of $114.22 million, a PE ratio of -7.27 and a beta of 1.60. Societal CDMO has a 12 month low of $0.26 and a 12 month high of $1.28.

Analysts Set New Price Targets

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

Institutional Trading of Societal CDMO

Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in shares of Societal CDMO in the first quarter worth $33,000. Bank of America Corp DE increased its holdings in Societal CDMO by 17,732.4% during the first quarter. Bank of America Corp DE now owns 31,920 shares of the company’s stock worth $38,000 after buying an additional 31,741 shares during the last quarter. Northern Trust Corp increased its holdings in Societal CDMO by 16.5% during the fourth quarter. Northern Trust Corp now owns 161,239 shares of the company’s stock worth $57,000 after buying an additional 22,848 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Societal CDMO by 434.8% during the first quarter. Bank of New York Mellon Corp now owns 56,298 shares of the company’s stock worth $67,000 after buying an additional 45,772 shares during the last quarter. Finally, State Street Corp acquired a new position in Societal CDMO during the third quarter worth $188,000. Institutional investors own 52.60% of the company’s stock.

Societal CDMO Company Profile

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. It provides therapeutic development, end-to-end regulatory support, clinical and commercial manufacturing, aseptic fill/finish, lyophilization, packaging and logistics services to the global pharmaceutical market.