Societal CDMO (NASDAQ:SCTL) Trading Up 0.9%

Societal CDMO, Inc. (NASDAQ:SCTL)’s share price was up 0.9% during mid-day trading on Friday . The company traded as high as $1.10 and last traded at $1.10. Approximately 514,600 shares traded hands during trading, a decline of 46% from the average daily volume of 957,342 shares. The stock had previously closed at $1.09.

Analyst Ratings Changes

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

Societal CDMO Price Performance

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 firm has a market cap of $116.26 million, a price-to-earnings ratio of -7.33 and a beta of 1.61. The stock’s 50 day simple moving average is $1.05 and its 200-day simple moving average is $0.61.

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

Institutional Trading of Societal CDMO

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC grew its position in Societal CDMO by 26.8% during the first quarter. Global Retirement Partners LLC now owns 71,462 shares of the company’s stock valued at $77,000 after buying an additional 15,112 shares during the period. Clear Harbor Asset Management LLC grew its position in Societal CDMO by 174.5% during the third quarter. Clear Harbor Asset Management LLC now owns 938,847 shares of the company’s stock valued at $440,000 after buying an additional 596,883 shares during the period. Finally, AWM Investment Company Inc. grew its position in Societal CDMO by 1.4% during the third quarter. AWM Investment Company Inc. now owns 10,266,144 shares of the company’s stock valued at $4,815,000 after buying an additional 140,000 shares during the period. 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.