Scienture Holdings, Inc. (NASDAQ:SCNX) Sees Large Decrease in Short Interest

Scienture Holdings, Inc. (NASDAQ:SCNX) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 105,863 shares, a decrease of 91.9% from the September 30th total of 1,304,235 shares. Based on an average trading volume of 699,440 shares, the short-interest ratio is currently 0.2 days. Approximately 7.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On Scienture

A hedge fund recently bought a new position in Scienture stock. Susquehanna International Group LLP bought a new stake in shares of Scienture Holdings, Inc. (NASDAQ:SCNX) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 235,117 shares of the company’s stock, valued at approximately $82,000. Susquehanna International Group LLP owned about 0.57% of Scienture at the end of the most recent reporting period. Institutional investors own 5.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SCNX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Scienture in a research report on Monday, September 21st. Maxim Group set a $6.00 target price on Scienture and gave the company a “buy” rating in a research note on Friday. Finally, Zacks Research upgraded Scienture to a “hold” rating in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Scienture presently has a consensus rating of “Hold” and a consensus target price of $6.00.

Scienture Trading Up 8.0%

Shares of NASDAQ SCNX traded up $0.23 on Tuesday, reaching $3.16. 30,222 shares of the company traded hands, compared to its average volume of 120,214. The stock has a market capitalization of $5.57 million, a PE ratio of -0.06 and a beta of 3.34. Scienture has a fifty-two week low of $2.64 and a fifty-two week high of $30.45. The company has a current ratio of 3.04, a quick ratio of 2.97 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $7.00 and a 200 day moving average of $9.42.

Scienture (NASDAQ:SCNX) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($2.25) by $2.18. The company had revenue of $0.34 million for the quarter, compared to analyst estimates of $1.96 million. On average, equities research analysts forecast that Scienture will post -5.75 earnings per share for the current fiscal year.

About Scienture

Scienture Holdings, Inc is a specialty pharmaceutical company focused on developing and commercializing medicines for central nervous system disorders. The company seeks to address unmet treatment needs through pharmaceutical products and drug-delivery technologies designed to improve patient convenience and therapeutic use.

Scienture’s areas of interest include conditions such as insomnia, attention-deficit/hyperactivity disorder, anxiety, depression and pain. Its portfolio includes product candidates and commercial opportunities involving alternative delivery formats, including oral formulations and sprays.

The company serves the pharmaceutical market primarily in the United States.