Scinai Immunotherapeutics (NASDAQ:SCNI) Trading Down 3.1% – Here’s What Happened

Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI)’s stock price traded down 3.1% during mid-day trading on Thursday . The stock traded as low as $0.81 and last traded at $0.8220. 3,069 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 30,237 shares. The stock had previously closed at $0.8479.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Scinai Immunotherapeutics in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Scinai Immunotherapeutics presently has an average rating of “Sell”.

Scinai Immunotherapeutics Trading Down 3.1%

The company has a market cap of $2.62 million, a price-to-earnings ratio of -0.09 and a beta of 1.72. The stock’s 50 day moving average price is $0.90 and its 200 day moving average price is $1.35.

Institutional Trading of Scinai Immunotherapeutics

An institutional investor recently raised its position in Scinai Immunotherapeutics stock. Citadel Advisors LLC lifted its position in shares of Scinai Immunotherapeutics Ltd. Sponsored ADR (NASDAQ:SCNI) by 146.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,630 shares of the company’s stock after buying an additional 17,031 shares during the period. Citadel Advisors LLC owned approximately 0.90% of Scinai Immunotherapeutics worth $36,000 as of its most recent SEC filing. Institutional investors own 58.41% of the company’s stock.

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.