Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Short Interest Down 75.4% in May

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totaling 157,814 shares, a decrease of 75.4% from the April 30th total of 642,343 shares. Approximately 11.4% of the shares of the company are sold short. Based on an average daily trading volume, of 156,698 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On Scinai Immunotherapeutics

A hedge fund recently raised its stake in Scinai Immunotherapeutics stock. Citadel Advisors LLC increased its position in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,630 shares of the company’s stock after acquiring an additional 17,031 shares during the period. Citadel Advisors LLC owned approximately 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 and hedge funds.

Scinai Immunotherapeutics Stock Performance

Shares of SCNI stock traded up $0.00 during trading hours on Friday, reaching $0.45. 472,796 shares of the company’s stock were exchanged, compared to its average volume of 2,087,571. The company has a market cap of $1.78 million, a P/E ratio of -0.05 and a beta of 2.19. The company’s 50 day moving average is $0.58 and its two-hundred day moving average is $0.78. Scinai Immunotherapeutics has a 1 year low of $0.41 and a 1 year high of $6.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.30 and a quick ratio of 1.30.

Scinai Immunotherapeutics (NASDAQ:SCNI) last issued its earnings results on Wednesday, April 1st. The company reported $3.80 earnings per share (EPS) for the quarter. The business had revenue of $0.27 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

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.