Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Short Interest Up 51.2% in August

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 70,257 shares, an increase of 51.2% from the July 30th total of 46,462 shares. Based on an average daily trading volume, of 679,339 shares, the days-to-cover ratio is currently 0.1 days. Currently, 14.5% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Scinai Immunotherapeutics Price Performance

NASDAQ SCNI traded down $0.10 during trading hours on Wednesday, reaching $2.37. The company’s stock had a trading volume of 10,657 shares, compared to its average volume of 152,292. Scinai Immunotherapeutics has a 1 year low of $2.15 and a 1 year high of $16.80. The company has a quick ratio of 1.35, a current ratio of 1.56 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.22 million, a price-to-earnings ratio of -0.02 and a beta of 2.08. The firm’s 50-day moving average price is $2.59 and its 200-day moving average price is $4.74.

Institutional Inflows and Outflows

A hedge fund 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 third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,630 shares of the company’s stock after purchasing an additional 17,031 shares during the period. Citadel Advisors LLC owned approximately 0.90% of Scinai Immunotherapeutics worth $36,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 58.41% of the company’s stock.

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.