Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) Stock Short Interest Declines 80.5%

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) was the target of a significant drop in short interest in October. As of October 30th, there was short interest totaling 35,097 shares, a drop of 80.5% from the October 15th total of 179,643 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average trading volume of 102,093 shares, the days-to-cover ratio is currently 0.3 days.

Scinai Immunotherapeutics Stock Performance

Shares of NASDAQ SCNI traded down $0.07 during midday trading on Thursday, reaching $0.44. The company had a trading volume of 66,910 shares, compared to its average volume of 744,218. Scinai Immunotherapeutics has a 1 year low of $0.39 and a 1 year high of $13.00. The business’s 50-day simple moving average is $1.16 and its 200 day simple moving average is $4.15. The company has a current ratio of 1.23, a quick ratio of 1.35 and a debt-to-equity ratio of 0.06. The stock has a market cap of $596,700.00, a P/E ratio of 0.05 and a beta of 2.27.

Shares of Scinai Immunotherapeutics are set to reverse split on Thursday, November 19th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 18th.

Scinai Immunotherapeutics (NASDAQ:SCNI) last released its earnings results on Monday, November 9th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of ($8.50) by $8.80. The firm had revenue of $1.86 million during the quarter, compared to analyst estimates of $0.49 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Scinai Immunotherapeutics from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, October 21st. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Scinai Immunotherapeutics Company Profile

Scinai Immunotherapeutics Ltd. (NASDAQ:SCNI) is an Israel-based clinical-stage biopharmaceutical company focused on developing targeted immunotherapies for autoimmune and inflammatory diseases. The company’s research is centered on treatments intended to modulate disease-related immune responses while potentially limiting systemic exposure and associated side effects. Scinai’s technology platform is based on NanoAb antibody fragments, which are designed to bind specific biological targets and may be suitable for local administration.