Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Short Interest Down 89.8% in July

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 presently 0.3 days. Approximately 1.0% of the company’s shares are short sold.

Institutional Investors Weigh In On Scinai Immunotherapeutics

An institutional investor recently raised its stake in Scinai Immunotherapeutics stock. Citadel Advisors LLC increased its stake in shares of Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 58.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Scinai Immunotherapeutics has a consensus rating of “Sell”.

Scinai Immunotherapeutics Stock Down 2.8%

Shares of NASDAQ SCNI opened at $0.24 on Friday. The stock has a fifty day moving average price of $0.28 and a 200 day moving average price 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. Scinai Immunotherapeutics has a 12-month low of $0.21 and a 12-month high of $1.96. The company has a market cap of $1.24 million, a P/E ratio of -0.23 and a beta of 2.08.

Scinai Immunotherapeutics’s stock is scheduled to reverse split on the morning of 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.

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.