Scinai Immunotherapeutics (NASDAQ:SCNI) Shares Down 1.3% – Here’s What Happened

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) shares fell 1.3% during trading on Wednesday . The stock traded as low as $0.7466 and last traded at $0.7520. 7,530 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 59,702 shares. The stock had previously closed at $0.7620.

Analyst Ratings Changes

SCNI has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Scinai Immunotherapeutics to a “sell” rating in a research note on Saturday, August 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Scinai Immunotherapeutics presently has a consensus rating of “Sell”.

Scinai Immunotherapeutics Price Performance

The stock’s fifty day moving average price is $1.10 and its 200-day moving average price is $1.56. The firm has a market cap of $2.50 million, a PE ratio of -0.08 and a beta of 1.67.

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 shares of Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,630 shares of the company’s stock after acquiring 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. Institutional investors and hedge funds own 58.41% of the company’s stock.

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.