Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Sees Large Drop in Short Interest

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totaling 24,933 shares, a decrease of 15.6% from the November 30th total of 29,530 shares. Based on an average daily volume of 61,206 shares, the short-interest ratio is presently 0.4 days. Currently, 0.8% of the shares of the stock are short sold. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily volume of 61,206 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On Scinai Immunotherapeutics

An institutional investor recently raised its position in Scinai Immunotherapeutics stock. Citadel Advisors LLC boosted its stake in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,630 shares of the company’s stock after acquiring an additional 17,031 shares during the period. Citadel Advisors LLC owned 0.90% of Scinai Immunotherapeutics worth $36,000 at the end of the most recent quarter. 58.41% of the stock is currently owned by institutional investors.

Scinai Immunotherapeutics Stock Down 0.7%

NASDAQ SCNI opened at $0.71 on Friday. The company has a market capitalization of $2.27 million, a price-to-earnings ratio of -0.07 and a beta of 1.72. Scinai Immunotherapeutics has a twelve month low of $0.61 and a twelve month high of $6.18. The stock has a fifty day simple moving average of $1.02 and a 200 day simple moving average of $1.50.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Scinai Immunotherapeutics presently has a consensus rating of “Sell”.

About Scinai Immunotherapeutics

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.