Scopus BioPharma Inc. (NASDAQ:SCPS) Sees Large Decline in Short Interest

Scopus BioPharma Inc. (NASDAQ:SCPSGet Rating) saw a large decrease in short interest in May. As of May 15th, there was short interest totalling 54,800 shares, a decrease of 39.4% from the April 30th total of 90,400 shares. Based on an average daily volume of 296,600 shares, the short-interest ratio is presently 0.2 days. Approximately 0.8% of the company’s shares are sold short.

Shares of Scopus BioPharma stock opened at $0.38 on Friday. The stock’s 50-day moving average is $0.57 and its 200 day moving average is $1.22. Scopus BioPharma has a one year low of $0.36 and a one year high of $8.03.

Several hedge funds have recently bought and sold shares of SCPS. BlackRock Inc. lifted its holdings in shares of Scopus BioPharma by 1,399.8% in the third quarter. BlackRock Inc. now owns 19,018 shares of the company’s stock valued at $79,000 after purchasing an additional 17,750 shares in the last quarter. First Manhattan Co. lifted its holdings in shares of Scopus BioPharma by 198.9% in the third quarter. First Manhattan Co. now owns 27,800 shares of the company’s stock valued at $115,000 after purchasing an additional 18,500 shares in the last quarter. Millennium Management LLC bought a new position in shares of Scopus BioPharma in the third quarter valued at approximately $422,000. Renaissance Technologies LLC bought a new position in shares of Scopus BioPharma in the fourth quarter valued at approximately $34,000. Finally, Geode Capital Management LLC bought a new position in shares of Scopus BioPharma in the fourth quarter valued at approximately $108,000. Institutional investors own 28.86% of the company’s stock.

Scopus BioPharma Company Profile (Get Rating)

Scopus BioPharma Inc, a biopharmaceutical company, focuses on developing transformational therapeutics targeting serious diseases. Its lead development programs are immuno-oncology gene therapy for the treatment of various cancers, which include CO-sTiRNA, a STAT3 inhibitor gene therapy that drives tumor cell growth and anti-tumor immune suppression; and MRI-1867, a cannabinoid-1 receptor inverse agonist and inhibitor of inducible nitric oxide synthase for the treatment of systemic sclerosis.

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