Scienture Holdings, Inc. (NASDAQ:SCNX) Sees Large Decrease in Short Interest

Scienture Holdings, Inc. (NASDAQ:SCNX) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totaling 105,863 shares, a decline of 91.9% from the September 30th total of 1,304,235 shares. Based on an average daily volume of 699,440 shares, the short-interest ratio is presently 0.2 days. Currently, 7.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

SCNX has been the topic of several research analyst reports. Maxim Group set a $6.00 price objective on Scienture and gave the company a “buy” rating in a report on Friday. Weiss Ratings reissued a “sell (e+)” rating on shares of Scienture in a research note on Monday, September 21st. Finally, Zacks Research raised shares of Scienture to a “hold” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Scienture stock. Susquehanna International Group LLP bought a new stake in Scienture Holdings, Inc. (NASDAQ:SCNX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 235,117 shares of the company’s stock, valued at approximately $82,000. Susquehanna International Group LLP owned approximately 0.57% of Scienture as of its most recent SEC filing. Institutional investors and hedge funds own 5.68% of the company’s stock.

Scienture Trading Up 1.7%

Scienture stock traded up $0.05 during mid-day trading on Monday, hitting $2.93. The company’s stock had a trading volume of 16,656 shares, compared to its average volume of 409,908. The stock’s fifty day moving average is $7.00 and its two-hundred day moving average is $9.42. The company has a current ratio of 3.04, a quick ratio of 2.97 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $5.16 million, a PE ratio of -0.06 and a beta of 3.34. Scienture has a 1 year low of $2.64 and a 1 year high of $36.00.

Scienture (NASDAQ:SCNX) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($2.25) by $2.18. The company had revenue of $0.34 million during the quarter, compared to analyst estimates of $1.96 million. On average, analysts anticipate that Scienture will post -5.75 EPS for the current year.

Scienture Company Profile

Scienture Holdings, Inc is a specialty pharmaceutical company focused on developing and commercializing therapies for central nervous system (CNS) disorders. Its areas of interest include neurological and psychiatric conditions such as insomnia, attention-deficit/hyperactivity disorder, anxiety, depression and pain.

The company’s portfolio includes prescription pharmaceutical products and product candidates intended to provide alternative delivery methods or other potential benefits compared with existing treatments.