Scienture (NASDAQ:SCNX) Shares Down 0.9% – Here’s Why

Shares of Scienture Holdings, Inc. (NASDAQ:SCNX) fell 0.9% during trading on Monday . The company traded as low as $0.35 and last traded at $0.3570. Approximately 112,787 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 441,267 shares. The stock had previously closed at $0.3602.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SCNX shares. Wall Street Zen upgraded shares of Scienture to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Scienture in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $1.50.

Scienture Stock Performance

The firm has a market cap of $14.50 million, a P/E ratio of -0.14 and a beta of 3.29. The stock’s 50-day moving average is $0.39 and its 200 day moving average is $0.43.

Scienture (NASDAQ:SCNX) last posted its earnings results on Friday, May 15th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.15. The business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.40 million.

Hedge Funds Weigh In On Scienture

A hedge fund recently bought a new stake in Scienture stock. Virtu Financial LLC bought a new position in shares of Scienture Holdings, Inc. (NASDAQ:SCNX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 89,930 shares of the company’s stock, valued at approximately $46,000. Virtu Financial LLC owned approximately 0.22% of Scienture as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 5.68% of the company’s stock.

Scienture Company Profile

Scienture Holdings, Inc engages in the provision of health services and pharmaceutical products. It focuses on addressing underserved patients and indications through novel product concepts and innovation. The company was founded on July 15, 2005 and is headquartered in Lutz, FL.