Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Short Interest Down 69.8% in June

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 26,939 shares, a drop of 69.8% from the June 15th total of 89,259 shares. Based on an average daily volume of 337,966 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.7% of the shares of the stock are sold short.

Hedge Funds Weigh In On Scinai Immunotherapeutics

A hedge fund recently raised its stake in Scinai Immunotherapeutics stock. Citadel Advisors LLC raised its holdings in shares of Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,630 shares of the company’s stock after purchasing an additional 17,031 shares during the quarter. Citadel Advisors LLC owned 0.90% of Scinai Immunotherapeutics worth $36,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 58.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Scinai Immunotherapeutics currently has a consensus rating of “Sell”.

Scinai Immunotherapeutics Trading Down 0.8%

SCNI stock traded down $0.00 during mid-day trading on Tuesday, reaching $0.24. 18,484 shares of the stock traded hands, compared to its average volume of 1,696,793. Scinai Immunotherapeutics has a one year low of $0.24 and a one year high of $3.48. The stock has a market capitalization of $946,440.00, a PE ratio of -0.23 and a beta of 2.11. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.35 and a current ratio of 1.35. The business has a 50-day moving average price of $0.39 and a two-hundred day moving average price of $0.62.

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

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.