Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Stock Short Interest Drops 80.5%

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the target of a large decline in short interest in October. As of October 30th, there was short interest totaling 35,097 shares, a decline of 80.5% from the October 15th total of 179,643 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average trading volume of 102,093 shares, the days-to-cover ratio is presently 0.3 days.

Scinai Immunotherapeutics Trading Down 7.0%

Shares of SCNI stock traded down $0.03 during trading hours on Friday, reaching $0.41. The company had a trading volume of 36,692 shares, compared to its average volume of 740,947. Scinai Immunotherapeutics has a 1-year low of $0.39 and a 1-year high of $13.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.23 and a quick ratio of 1.35. The firm has a market cap of $554,850.00, a price-to-earnings ratio of 0.05 and a beta of 2.27. The company has a 50 day moving average of $1.12 and a 200 day moving average of $4.09.

Scinai Immunotherapeutics’s stock is going to reverse split on the morning of Thursday, November 19th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 18th.

Scinai Immunotherapeutics (NASDAQ:SCNI) last issued its earnings results on Monday, November 9th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of ($8.50) by $8.80. The firm had revenue of $1.86 million during the quarter, compared to the consensus estimate of $0.49 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Scinai Immunotherapeutics from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, October 21st. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Scinai Immunotherapeutics Company Profile

Scinai Immunotherapeutics Ltd. (NASDAQ:SCNI) is an Israel-based clinical-stage biopharmaceutical company focused on developing targeted immunotherapies for autoimmune and inflammatory diseases. The company’s research is centered on treatments intended to modulate disease-related immune responses while potentially limiting systemic exposure and associated side effects. Scinai’s technology platform is based on NanoAb antibody fragments, which are designed to bind specific biological targets and may be suitable for local administration.