Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Sees Significant Decrease in Short Interest

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNIGet Free Report) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 8,238 shares, a decline of 88.3% from the August 15th total of 70,257 shares. Based on an average daily trading volume, of 121,374 shares, the short-interest ratio is presently 0.1 days. Approximately 3.0% of the company’s stock are sold short.

Scinai Immunotherapeutics Stock Performance

SCNI stock traded down $0.04 during mid-day trading on Thursday, reaching $1.67. The company had a trading volume of 44,194 shares, compared to its average volume of 174,421. Scinai Immunotherapeutics has a 52 week low of $1.60 and a 52 week high of $16.40. The stock has a 50 day simple moving average of $2.49 and a two-hundred day simple moving average of $4.46. The company has a quick ratio of 1.35, a current ratio of 1.56 and a debt-to-equity ratio of 0.05.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Analysis on Scinai Immunotherapeutics

Hedge Funds Weigh In On Scinai Immunotherapeutics

An institutional investor recently raised its position in Scinai Immunotherapeutics stock. Citadel Advisors LLC increased its position in shares of Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNIFree Report) by 146.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,630 shares of the company’s stock after buying an additional 17,031 shares during the period. Citadel Advisors LLC owned 0.90% of Scinai Immunotherapeutics worth $36,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 58.41% of the company’s stock.

About Scinai Immunotherapeutics

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Scinai Immunotherapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scinai Immunotherapeutics and related companies with MarketBeat.com's FREE daily email newsletter.