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

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

Institutional Investors Weigh In On Eterna Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lake Street Advisors Group LLC bought a new stake in shares of Eterna Therapeutics during the fourth quarter worth $933,000. Sippican Capital Advisors grew its stake in shares of Eterna Therapeutics by 34.7% during the first quarter. Sippican Capital Advisors now owns 72,800 shares of the company’s stock worth $175,000 after buying an additional 18,750 shares during the last quarter. Finally, Avidian Wealth Solutions LLC bought a new stake in shares of Eterna Therapeutics during the first quarter worth $36,000. 70.55% of the stock is currently owned by institutional investors and hedge funds.

Eterna Therapeutics Stock Performance

ERNA stock traded down $0.10 during mid-day trading on Wednesday, hitting $1.31. 31,720 shares of the company were exchanged, compared to its average volume of 8,610. The business has a 50 day simple moving average of $1.79 and a 200-day simple moving average of $1.95. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 3.03. The stock has a market capitalization of $7.09 million, a PE ratio of -0.33 and a beta of 4.43. Eterna Therapeutics has a 1-year low of $0.84 and a 1-year high of $2.63.

Eterna Therapeutics (NASDAQ:ERNA) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($1.02) earnings per share (EPS) for the quarter. The company 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%.

Eterna Therapeutics Company Profile

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.