Scienture (NASDAQ:SCNX) Shares Down 5.3% – Here’s What Happened

Scienture Holdings, Inc. (NASDAQ:SCNXGet Free Report) fell 5.3% on Friday . The stock traded as low as $0.36 and last traded at $0.36. 186,694 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 283,114 shares. The stock had previously closed at $0.38.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SCNX. Wall Street Zen raised Scienture to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Scienture in a research note on Friday, March 27th. Finally, Maxim Group began coverage on Scienture in a report on Tuesday, February 24th. They issued a “buy” rating and a $1.50 target price for the company. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $1.50.

Check Out Our Latest Stock Report on Scienture

Scienture Stock Performance

The company has a 50-day moving average of $0.38 and a 200-day moving average of $0.46. The stock has a market cap of $14.63 million, a price-to-earnings ratio of -0.14 and a beta of 3.29.

Scienture (NASDAQ:SCNXGet Free Report) last released its earnings results on Friday, May 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.15. The business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.40 million.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Scienture stock. Geode Capital Management LLC boosted its stake in Scienture Holdings, Inc. (NASDAQ:SCNXFree Report) by 264.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 316,201 shares of the company’s stock after purchasing an additional 229,398 shares during the period. Geode Capital Management LLC owned approximately 0.78% of Scienture worth $161,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 5.68% of the company’s stock.

Scienture Company Profile

(Get Free Report)

Scienture Holdings, Inc engages in the provision of health services and pharmaceutical products. It focuses on addressing underserved patients and indications through novel product concepts and innovation. The company was founded on July 15, 2005 and is headquartered in Lutz, FL.

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