Eterna Therapeutics Inc. (NASDAQ:ERNA) Sees Significant Drop in Short Interest

Eterna Therapeutics Inc. (NASDAQ:ERNA) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 33,200 shares, a decline of 10.5% from the August 15th total of 37,100 shares. Based on an average daily trading volume, of 7,800 shares, the days-to-cover ratio is currently 4.3 days. Approximately 1.2% of the shares of the stock are sold short.

Hedge Funds Weigh In On Eterna Therapeutics

Hedge funds have recently modified their holdings of the business. Lake Street Advisors Group LLC acquired a new position in Eterna Therapeutics in the fourth quarter valued at $933,000. Sippican Capital Advisors lifted its holdings in Eterna Therapeutics by 34.7% in the first quarter. Sippican Capital Advisors now owns 72,800 shares of the company’s stock valued at $175,000 after buying an additional 18,750 shares during the period. Finally, Avidian Wealth Solutions LLC acquired a new position in Eterna Therapeutics in the first quarter valued at $36,000. Institutional investors and hedge funds own 70.55% of the company’s stock.

Eterna Therapeutics Trading Down 7.1 %

Shares of NASDAQ:ERNA traded down $0.10 during mid-day trading on Wednesday, reaching $1.31. 31,720 shares of the company’s stock were exchanged, compared to its average volume of 8,610. The firm has a market capitalization of $7.09 million, a price-to-earnings ratio of -0.33 and a beta of 4.43. The business’s fifty day moving average price is $1.79 and its 200-day moving average price is $1.95. The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.37 and a current ratio of 0.37. Eterna Therapeutics has a twelve month low of $0.84 and a twelve month high of $2.63.

Eterna Therapeutics (NASDAQ:ERNA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($1.02) EPS for the quarter. The business had revenue of $0.05 million for the quarter. Eterna Therapeutics had a negative return on equity of 1,466.71% and a negative net margin of 14,765.43%.

About Eterna Therapeutics

Eterna Therapeutics Inc, a life science company, provides mRNA cell engineering technologies. Its technologies include mRNA cell reprogramming and gene editing; NoveSlice and UltraSlice gene-editing proteins; and the ToRNAdo mRNA delivery system. The company has a license agreement with Factor Bioscience Limited.