Short Interest in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Drops By 96.4%

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the target of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 1,875 shares, a decrease of 96.4% from the January 29th total of 52,373 shares. Based on an average daily trading volume, of 23,155 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the company’s stock are short sold. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 23,155 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Scinai Immunotherapeutics

A hedge fund recently raised its stake in Scinai Immunotherapeutics stock. Citadel Advisors LLC raised its stake in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,630 shares of the company’s stock after purchasing an additional 17,031 shares during the period. 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). 58.41% of the stock is owned by hedge funds and other institutional investors.

Scinai Immunotherapeutics Stock Up 5.9%

Shares of NASDAQ:SCNI opened at $0.91 on Thursday. The firm has a 50 day moving average of $0.83 and a 200 day moving average of $1.15. The company has a market capitalization of $3.16 million, a price-to-earnings ratio of -0.10 and a beta of 1.88. Scinai Immunotherapeutics has a 52 week low of $0.61 and a 52 week high of $6.18.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Scinai Immunotherapeutics Company Profile

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.