Societal CDMO, Inc. to Post Q1 2023 Earnings of ($0.03) Per Share, William Blair Forecasts (NASDAQ:SCTL)

Societal CDMO, Inc. (NASDAQ:SCTL – Get Rating) – Equities research analysts at William Blair issued their Q1 2023 EPS estimates for Societal CDMO in a research report issued on Thursday, March 2nd. William Blair analyst M. Smock expects that the company will earn ($0.03) per share for the quarter. The consensus estimate for Societal CDMO’s current full-year earnings is ($0.13) per share. William Blair also issued estimates for Societal CDMO’s Q2 2023 earnings at ($0.01) EPS, Q3 2023 earnings at $0.00 EPS and Q4 2023 earnings at $0.00 EPS.

Societal CDMO Price Performance

Shares of SCTL stock opened at $1.24 on Monday. The firm’s 50 day moving average is $1.40 and its 200-day moving average is $1.47. Societal CDMO has a 1 year low of $0.62 and a 1 year high of $2.19. The firm has a market capitalization of $70.31 million, a price-to-earnings ratio of -3.54 and a beta of 0.71. The company has a current ratio of 2.44, a quick ratio of 2.83 and a debt-to-equity ratio of 0.56.

Hedge Funds Weigh In On Societal CDMO

Several large investors have recently bought and sold shares of SCTL. First Light Asset Management LLC acquired a new position in Societal CDMO in the fourth quarter valued at approximately $12,772,000. AWM Investment Company Inc. raised its holdings in Societal CDMO by 57.7% in the fourth quarter. AWM Investment Company Inc. now owns 8,846,052 shares of the company’s stock worth $13,181,000 after purchasing an additional 3,236,363 shares during the period. Cowen Prime Advisors LLC acquired a new stake in Societal CDMO in the third quarter worth $5,231,000. Driehaus Capital Management LLC acquired a new stake in Societal CDMO in the fourth quarter worth $4,269,000. Finally, Samjo Capital LLC acquired a new stake in Societal CDMO in the third quarter worth $3,236,000. 48.93% of the stock is currently owned by institutional investors and hedge funds.

About Societal CDMO

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Societal CDMO, Inc is a pharmaceutical company, which engages in the contract development and manufacturing organization (CDMO). The firm offers capabilities spanning pre-Investigational New Drug (IND) development to commercial manufacturing and packaging for a wide range of therapeutic dosage forms primarily focused on small molecules.