Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Short Interest Down 56.7% in January

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) saw a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 6,808 shares, a decrease of 56.7% from the December 31st total of 15,724 shares. Based on an average daily trading volume, of 24,455 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the shares of the company are short sold. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 24,455 shares, the days-to-cover ratio is currently 0.3 days.

Scinai Immunotherapeutics Stock Down 5.8%

Shares of NASDAQ:SCNI traded down $0.06 during trading on Thursday, reaching $0.97. 52,076 shares of the company’s stock traded hands, compared to its average volume of 57,357. Scinai Immunotherapeutics has a fifty-two week low of $0.61 and a fifty-two week high of $6.18. The company has a 50-day simple moving average of $0.91 and a 200-day simple moving average of $1.30. The firm has a market cap of $3.09 million, a PE ratio of -0.10 and a beta of 1.72.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Scinai Immunotherapeutics stock. Citadel Advisors LLC increased its stake in 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 SEC. The institutional investor 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 at the end of the most recent reporting period. 58.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.