Short Interest in SciSparc Ltd. (NASDAQ:SPRC) Declines By 56.3%

SciSparc Ltd. (NASDAQ:SPRC) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 363,100 shares, a decline of 56.3% from the September 30th total of 831,500 shares. Based on an average daily volume of 3,020,000 shares, the short-interest ratio is presently 0.1 days. Approximately 3.5% of the shares of the stock are sold short.

SciSparc Stock Performance

Shares of NASDAQ SPRC traded up $0.01 during trading on Monday, reaching $0.23. The company had a trading volume of 521,475 shares, compared to its average volume of 1,673,811. SciSparc has a twelve month low of $0.21 and a twelve month high of $14.22. The stock has a 50-day moving average price of $0.29 and a two-hundred day moving average price of $0.69.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in SciSparc stock. Renaissance Technologies LLC acquired a new stake in SciSparc Ltd. (NASDAQ:SPRC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,700 shares of the company’s stock, valued at approximately $32,000. Renaissance Technologies LLC owned about 5.59% of SciSparc at the end of the most recent reporting period. Institutional investors own 25.06% of the company’s stock.

SciSparc Company Profile

SciSparc Ltd., a clinical-stage pharmaceutical company, develops drugs based on cannabinoid therapies. Its drug development programs include SCI-110 for the treatment of Tourette syndrome and Alzheimer's disease and agitation; SCI-160 for the treatment of pain; SCI-210 for the treatment of autism spectrum disorder and status epilepticus; and CannAmide, an anti-inflammatory and chronic pain solution.