Societal CDMO (NASDAQ:SCTL) Trading Up 0.9%

Societal CDMO, Inc. (NASDAQ:SCTL) was up 0.9% during mid-day trading on Friday . The stock traded as high as $1.10 and last traded at $1.10. Approximately 514,600 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 957,342 shares. The stock had previously closed at $1.09.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $1.10 price objective (down from $1.25) on shares of Societal CDMO in a research note on Thursday, February 29th.

Societal CDMO Trading Up 0.9 %

The business has a 50-day moving average of $1.05 and a 200 day moving average of $0.61. The stock has a market cap of $116.26 million, a PE ratio of -7.33 and a beta of 1.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.86 and a current ratio of 1.07.

Societal CDMO (NASDAQ:SCTL) last released its earnings results on Friday, March 22nd. The company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $27.72 million during the quarter, compared to analysts’ expectations of $25.50 million. Societal CDMO had a negative net margin of 14.03% and a negative return on equity of 23.82%. Equities research analysts predict that Societal CDMO, Inc. will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AWM Investment Company Inc. lifted its holdings in Societal CDMO by 1.4% in the 3rd quarter. AWM Investment Company Inc. now owns 10,266,144 shares of the company’s stock valued at $4,815,000 after purchasing an additional 140,000 shares in the last quarter. Clear Harbor Asset Management LLC lifted its holdings in Societal CDMO by 174.5% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 938,847 shares of the company’s stock valued at $440,000 after purchasing an additional 596,883 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Societal CDMO by 26.8% in the 1st quarter. Global Retirement Partners LLC now owns 71,462 shares of the company’s stock valued at $77,000 after purchasing an additional 15,112 shares in the last quarter. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

Societal CDMO Company Profile

Societal CDMO, Inc, a contract development and manufacturing organization, engages in the research and development, manufacturing, and packaging for various therapeutic dosage forms primarily in the small molecules in the United States and internationally. The company provides end-to-end services, such as formulation development focusing on complex formulations, reformulation, physical characterization, and excipient compatibility; analytical methods development which offers a range of analytical testing capabilities, including product testing, ICH stability, method development and validation, chromatography and spectroscopy equipment, stability chambers, and microbial testing; and pharmaceutical manufacturing that provides milling, blending, compression, spray and rotary granulation, particle and bead coating, encapsulation, liquids, lyophilization, and sterile fill and finish services.