Short Interest in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Expands By 669.3%

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the recipient of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 52,373 shares, a growth of 669.3% from the January 15th total of 6,808 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average trading volume of 86,857 shares, the days-to-cover ratio is presently 0.6 days. Based on an average trading volume of 86,857 shares, the days-to-cover ratio is presently 0.6 days. Approximately 1.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On Scinai Immunotherapeutics

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Scinai Immunotherapeutics Stock Up 1.2%

Scinai Immunotherapeutics stock traded up $0.01 during trading hours on Tuesday, hitting $0.80. The stock had a trading volume of 14,890 shares, compared to its average volume of 61,800. The business’s 50 day simple moving average is $0.90 and its 200-day simple moving average is $1.22. Scinai Immunotherapeutics has a one year low of $0.61 and a one year high of $6.18. The stock has a market cap of $2.55 million, a price-to-earnings ratio of -0.08 and a beta of 1.88.

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.