Short Interest in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Declines By 15.6%

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 24,933 shares, a drop of 15.6% from the November 30th total of 29,530 shares. Based on an average daily trading volume, of 61,206 shares, the short-interest ratio is currently 0.4 days. Approximately 0.8% of the shares of the company are short sold. Approximately 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 61,206 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds 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% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,630 shares of the company’s stock after purchasing 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 SEC filing. Institutional investors and hedge funds own 58.41% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Scinai Immunotherapeutics Price Performance

Shares of SCNI opened at $0.72 on Wednesday. The company has a market capitalization of $2.29 million, a P/E ratio of -0.07 and a beta of 1.67. Scinai Immunotherapeutics has a one year low of $0.61 and a one year high of $6.18. The business’s 50 day simple moving average is $1.05 and its 200-day simple moving average is $1.51.

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.