Short Interest in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Increases By 1,589.7%

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 455,184 shares, a growth of 1,589.7% from the June 30th total of 26,939 shares. Based on an average trading volume of 925,479 shares, the days-to-cover ratio is presently 0.5 days. Currently, 29.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Scinai Immunotherapeutics

An institutional investor recently raised its stake in Scinai Immunotherapeutics stock. Citadel Advisors LLC grew its position 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 filing 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 institutional investors.

Wall Street Analyst Weigh In

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

Scinai Immunotherapeutics Stock Down 6.9%

Shares of NASDAQ:SCNI traded down $0.02 during midday trading on Friday, hitting $0.23. 35,206 shares of the stock were exchanged, compared to its average volume of 541,542. The company has a market capitalization of $910,800.00, a PE ratio of -0.22 and a beta of 2.11. Scinai Immunotherapeutics has a 52-week low of $0.21 and a 52-week high of $3.48. 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’s fifty day simple moving average is $0.34 and its two-hundred day simple moving average is $0.60.

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.