Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Short Interest Down 89.8% in July

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 46,462 shares, a decline of 89.8% from the July 15th total of 455,184 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 156,436 shares, the short-interest ratio is currently 0.3 days.

Scinai Immunotherapeutics Stock Performance

SCNI traded up $0.01 during trading hours on Wednesday, hitting $0.25. 42,758 shares of the stock were exchanged, compared to its average volume of 1,577,402. The stock has a market cap of $1.27 million, a price-to-earnings ratio of -0.23 and a beta of 2.08. The stock has a 50-day simple moving average of $0.29 and a 200-day simple moving average of $0.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.35 and a quick ratio of 1.35. Scinai Immunotherapeutics has a 12 month low of $0.21 and a 12 month high of $1.97.

Shares of Scinai Immunotherapeutics are going to reverse split on Friday, August 21st. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, August 20th.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Scinai Immunotherapeutics

An institutional investor recently raised its stake in Scinai Immunotherapeutics stock. Citadel Advisors LLC boosted its holdings in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,630 shares of the company’s stock after acquiring an additional 17,031 shares during the period. Citadel Advisors LLC owned about 0.90% of Scinai Immunotherapeutics worth $36,000 at the end of the most recent quarter. Institutional investors own 58.41% of the company’s stock.

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.