Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Sees Significant Drop in Short Interest

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 46,462 shares, a drop of 89.8% from the July 15th total of 455,184 shares. Based on an average daily trading volume, of 156,436 shares, the short-interest ratio is currently 0.3 days. Approximately 1.0% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Scinai Immunotherapeutics Stock Performance

SCNI traded up $0.01 during trading hours on Wednesday, hitting $0.25. The company’s stock had a trading volume of 42,758 shares, compared to its average volume of 1,577,402. The company has a 50-day simple moving average of $0.29 and a 200 day simple moving average of $0.54. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.27 million, a PE ratio of -0.23 and a beta of 2.08. Scinai Immunotherapeutics has a fifty-two week low of $0.21 and a fifty-two week high of $1.97.

Scinai Immunotherapeutics shares are set to reverse split on Friday, August 21st. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, August 20th.

Institutional Trading of Scinai Immunotherapeutics

A hedge fund recently raised its position in Scinai Immunotherapeutics stock. Citadel Advisors LLC boosted its holdings in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,630 shares of the company’s stock after acquiring an additional 17,031 shares during the quarter. Citadel Advisors LLC owned about 0.90% of Scinai Immunotherapeutics worth $36,000 as of its most recent SEC filing. 58.41% of the stock is currently owned by institutional investors.

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.