Societal CDMO, Inc. (NASDAQ:SCTL) Short Interest Up 82.8% in March

Societal CDMO, Inc. (NASDAQ:SCTL) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 271,500 shares, a growth of 82.8% from the February 29th total of 148,500 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average trading volume of 922,800 shares, the short-interest ratio is presently 0.3 days.

Societal CDMO Stock Down 0.9 %

Shares of NASDAQ:SCTL traded down $0.01 during trading on Thursday, hitting $1.08. 907,860 shares of the company’s stock traded hands, compared to its average volume of 990,017. The company has a 50-day moving average price of $0.71 and a 200-day moving average price of $0.50. Societal CDMO has a 52 week low of $0.26 and a 52 week high of $1.28. The company has a current ratio of 1.07, a quick ratio of 1.73 and a debt-to-equity ratio of 0.01. The company has a market cap of $114.15 million, a price-to-earnings ratio of -7.20 and a beta of 1.60.

Societal CDMO (NASDAQ:SCTL) last released its quarterly earnings results on Friday, March 22nd. The company reported ($0.01) earnings per share for the quarter. Societal CDMO had a negative net margin of 14.03% and a negative return on equity of 23.82%. The company had revenue of $27.72 million during the quarter, compared to analyst estimates of $25.50 million. As a group, research analysts forecast that Societal CDMO will post -0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $1.10 price target (down from $1.25) on shares of Societal CDMO in a research report on Thursday, February 29th.

Institutional Investors Weigh In On Societal CDMO

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AWM Investment Company Inc. grew its holdings in shares of Societal CDMO by 14.5% in the 2nd quarter. AWM Investment Company Inc. now owns 10,126,144 shares of the company’s stock valued at $11,139,000 after acquiring an additional 1,280,092 shares in the last quarter. HighMark Wealth Management LLC increased its position in shares of Societal CDMO by 47.4% during the 3rd quarter. HighMark Wealth Management LLC now owns 484,985 shares of the company’s stock worth $227,000 after purchasing an additional 155,997 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of Societal CDMO by 174.5% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 938,847 shares of the company’s stock worth $440,000 after purchasing an additional 596,883 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Societal CDMO in the 3rd quarter valued at approximately $645,000. Finally, Geode Capital Management LLC grew its stake in shares of Societal CDMO by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 382,339 shares of the company’s stock valued at $569,000 after buying an additional 9,035 shares in the last quarter. Institutional investors and hedge funds own 87.15% of the company’s stock.

About Societal CDMO

Societal CDMO, Inc, a contract development and manufacturing organization, engages in the research and development, manufacturing, and packaging for various therapeutic dosage forms primarily in the small molecules in the United States and internationally. The company provides end-to-end services, such as formulation development focusing on complex formulations, reformulation, physical characterization, and excipient compatibility; analytical methods development which offers a range of analytical testing capabilities, including product testing, ICH stability, method development and validation, chromatography and spectroscopy equipment, stability chambers, and microbial testing; and pharmaceutical manufacturing that provides milling, blending, compression, spray and rotary granulation, particle and bead coating, encapsulation, liquids, lyophilization, and sterile fill and finish services.