Short Interest in Societal CDMO, Inc. (NASDAQ:SCTL) Decreases By 99.1%

Societal CDMO, Inc. (NASDAQ:SCTL - Get Free Report) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 2,400 shares, a drop of 99.1% from the March 15th total of 271,500 shares. Based on an average daily volume of 7,100 shares, the short-interest ratio is currently 0.3 days.

Analyst Ratings Changes

Separately, Royal Bank of Canada restated a "sector perform" rating and set a $1.10 price objective (down from $1.25) on shares of Societal CDMO in a research note on Thursday, February 29th.

Institutional Investors Weigh In On Societal CDMO

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Societal CDMO by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 382,339 shares of the company's stock worth $569,000 after buying an additional 9,035 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Societal CDMO by 16.5% during the fourth quarter. Northern Trust Corp now owns 161,239 shares of the company's stock worth $57,000 after buying an additional 22,848 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Societal CDMO during the first quarter worth $33,000. Bank of America Corp DE grew its holdings in shares of Societal CDMO by 17,732.4% during the first quarter. Bank of America Corp DE now owns 31,920 shares of the company's stock worth $38,000 after buying an additional 31,741 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Societal CDMO by 434.8% during the first quarter. Bank of New York Mellon Corp now owns 56,298 shares of the company's stock worth $67,000 after buying an additional 45,772 shares in the last quarter. Hedge funds and other institutional investors own 87.15% of the company's stock.

Societal CDMO Stock Performance

Shares of SCTL remained flat at $1.10 during trading hours on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.86 and a current ratio of 1.07. The stock's 50 day simple moving average is $0.84 and its 200-day simple moving average is $0.53. Societal CDMO has a twelve month low of $0.26 and a twelve month high of $1.28. The company has a market capitalization of $116.26 million, a P/E ratio of -7.33 and a beta of 1.61.

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

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.