Short Interest in Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Increases By 1,589.7%

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 455,184 shares, a growth of 1,589.7% from the June 30th total of 26,939 shares. Based on an average daily volume of 925,479 shares, the days-to-cover ratio is presently 0.5 days. Approximately 29.4% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Scinai Immunotherapeutics has a consensus rating of “Sell”.

Hedge Funds Weigh In On Scinai Immunotherapeutics

A hedge fund recently raised its stake in Scinai Immunotherapeutics stock. Citadel Advisors LLC increased its stake in shares of Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 28,630 shares of the company’s stock after purchasing an additional 17,031 shares during the quarter. 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 and hedge funds.

Scinai Immunotherapeutics Price Performance

Shares of NASDAQ SCNI traded down $0.02 during mid-day trading on Friday, hitting $0.23. 35,206 shares of the company’s stock traded hands, compared to its average volume of 541,542. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.35 and a quick ratio of 1.35. Scinai Immunotherapeutics has a 1 year low of $0.21 and a 1 year high of $3.48. The company’s 50-day moving average is $0.34 and its two-hundred day moving average is $0.60. The company has a market capitalization of $910,800.00, a P/E ratio of -0.22 and a beta of 2.11.

Scinai Immunotherapeutics Company Profile

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.