Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) Sees Significant Drop in Short Interest

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) was the target of a large decrease in short interest in May. As of May 31st, there was short interest totalling 94,500 shares, a decrease of 35.0% from the May 15th total of 145,300 shares. Based on an average daily volume of 831,600 shares, the short-interest ratio is presently 0.1 days. Currently, 6.9% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities research analysts have commented on the company. StockNews.com upgraded Cyclacel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Roth Mkm lowered their price objective on Cyclacel Pharmaceuticals from $21.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd.

Cyclacel Pharmaceuticals Stock Performance

Shares of NASDAQ:CYCC traded up $0.04 during midday trading on Friday, reaching $1.69. 26,509 shares of the company’s stock traded hands, compared to its average volume of 210,249. Cyclacel Pharmaceuticals has a 1 year low of $1.30 and a 1 year high of $13.20. The company has a market cap of $2.47 million, a P/E ratio of -0.08 and a beta of 0.58. The company has a fifty day simple moving average of $2.05 and a two-hundred day simple moving average of $2.50.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its earnings results on Tuesday, May 14th. The biotechnology company reported ($2.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.93) by $2.66. Cyclacel Pharmaceuticals had a negative return on equity of 1,009.04% and a negative net margin of 4,401.34%. The firm had revenue of $0.03 million for the quarter. During the same quarter last year, the business earned ($7.05) EPS. As a group, research analysts forecast that Cyclacel Pharmaceuticals will post -4.93 EPS for the current fiscal year.

Cyclacel Pharmaceuticals Company Profile

Cyclacel Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases in the United States, the United Kingdom, and internationally. The company's lead product includes fadraciclib, a cyclin dependent kinase Inhibitors (CDK) that is in Phase 1/2 clinical trial for the treatment of solid tumors and hematological malignancies, as well as in combination with venetoclax to treat relapsed or refractory chronic lymphocytic leukemia; and Plogosertib, a polo-like kinase inhibitor program, which is in Phase 1/2 clinical trial for the treatment of advanced solid tumors and hematological malignancies.