Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Sees Significant Increase in Short Interest

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 642,343 shares, a growth of 780.2% from the April 15th total of 72,973 shares. Currently, 19.3% of the company’s shares are short sold. Based on an average daily volume of 18,420,264 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Trading of Scinai Immunotherapeutics

A hedge fund recently raised its stake in Scinai Immunotherapeutics stock. Citadel Advisors LLC lifted its stake in shares of Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,630 shares of the company’s stock after buying an additional 17,031 shares during the quarter. Citadel Advisors LLC owned about 0.90% of Scinai Immunotherapeutics worth $36,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 58.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Scinai Immunotherapeutics currently has an average rating of “Sell”.

Scinai Immunotherapeutics Trading Up 6.8%

Shares of Scinai Immunotherapeutics stock traded up $0.03 on Tuesday, hitting $0.55. 61,310 shares of the company’s stock traded hands, compared to its average volume of 2,332,274. Scinai Immunotherapeutics has a one year low of $0.45 and a one year high of $6.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.30 and a quick ratio of 1.30. The company has a fifty day moving average of $0.65 and a two-hundred day moving average of $0.85. The company has a market capitalization of $1.94 million, a price-to-earnings ratio of -0.06 and a beta of 2.19.

Scinai Immunotherapeutics (NASDAQ:SCNI) last announced its quarterly earnings data on Wednesday, April 1st. The company reported $3.80 EPS for the quarter. The company had revenue of $0.27 million for the quarter.

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.