Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Sees Large Decrease in Short Interest
by Jessica Moore · The Cerbat GemScinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI – Get Free Report) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totaling 24,933 shares, a drop of 15.6% from the November 30th total of 29,530 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 61,206 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 61,206 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.8% of the shares of the company are short sold.
Institutional Trading of Scinai Immunotherapeutics
A hedge fund recently raised its stake in Scinai Immunotherapeutics stock. Citadel Advisors LLC grew its holdings in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI – Free Report) by 146.8% in the 3rd quarter, according to the company in its most recent filing with the 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 approximately 0.90% of Scinai Immunotherapeutics worth $36,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 58.41% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Scinai Immunotherapeutics currently has a consensus rating of “Sell”.
View Our Latest Report on Scinai Immunotherapeutics
Scinai Immunotherapeutics Stock Down 0.7%
NASDAQ SCNI opened at $0.71 on Thursday. The company has a market capitalization of $2.27 million, a price-to-earnings ratio of -0.07 and a beta of 1.67. The stock’s 50-day simple moving average is $1.04 and its two-hundred day simple moving average is $1.50. Scinai Immunotherapeutics has a twelve month low of $0.61 and a twelve month high of $6.18.
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.