Societal CDMO (NASDAQ:SCTL) Announces Quarterly Earnings Results

Societal CDMO (NASDAQ:SCTL) released its earnings results on Friday. The company reported ($0.01) EPS for the quarter, Yahoo Finance reports. Societal CDMO had a negative return on equity of 25.04% and a negative net margin of 23.75%. The firm had revenue of $27.72 million during the quarter, compared to analysts’ expectations of $25.50 million.

Societal CDMO Stock Performance

Shares of SCTL stock opened at $1.09 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.73 and a current ratio of 2.30. The firm has a market capitalization of $114.22 million, a price-to-earnings ratio of -7.27 and a beta of 1.60. Societal CDMO has a one year low of $0.26 and a one year high of $1.28. The company has a 50 day moving average price of $0.65 and a 200 day moving average price of $0.48.

Hedge Funds Weigh In On Societal CDMO

A number of hedge funds have recently made changes to their positions in SCTL. Jane Street Group LLC purchased a new position in shares of Societal CDMO in the 1st quarter worth $33,000. Bank of America Corp DE increased its stake 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 acquiring an additional 31,741 shares during the last quarter. Northern Trust Corp increased its stake 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 acquiring an additional 22,848 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Societal CDMO by 434.8% in the 1st quarter. Bank of New York Mellon Corp now owns 56,298 shares of the company’s stock worth $67,000 after purchasing an additional 45,772 shares during the period. Finally, State Street Corp acquired a new position in shares of Societal CDMO in the 3rd quarter valued at about $188,000. Institutional investors and hedge funds own 52.60% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada restated a “sector perform” rating and set a $1.10 price objective (down previously from $1.25) on shares of Societal CDMO in a 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. 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.