Short Interest in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Drops By 88.3%

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 8,238 shares, a decline of 88.3% from the August 15th total of 70,257 shares. Based on an average daily volume of 121,374 shares, the short-interest ratio is currently 0.1 days. Approximately 3.0% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Scinai Immunotherapeutics Trading Up 1.6%

NASDAQ SCNI traded up $0.03 during mid-day trading on Friday, reaching $1.70. 16,296 shares of the stock were exchanged, compared to its average volume of 159,126. The stock has a market cap of $1.20 million, a P/E ratio of -0.02 and a beta of 2.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.56 and a quick ratio of 1.35. The stock has a 50 day simple moving average of $2.49 and a 200-day simple moving average of $4.46. Scinai Immunotherapeutics has a one year low of $1.60 and a one year high of $16.40.

Institutional Trading of Scinai Immunotherapeutics

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