Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) Short Interest Down 70.7% in March

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 53,600 shares, a decline of 70.7% from the February 28th total of 182,800 shares. Based on an average daily volume of 2,220,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.6% of the shares of the stock are sold short.

Cyclacel Pharmaceuticals Price Performance

NASDAQ:CYCC traded down $0.01 during mid-day trading on Friday, reaching $0.30. 110,820 shares of the company’s stock traded hands, compared to its average volume of 1,205,085. The company has a 50 day moving average price of $0.33 and a 200-day moving average price of $0.53. The firm has a market capitalization of $1.88 million, a price-to-earnings ratio of -0.03 and a beta of 0.28. Cyclacel Pharmaceuticals has a 12-month low of $0.29 and a 12-month high of $4.00.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Cyclacel Pharmaceuticals in a report on Sunday, March 23rd. They set a “sell” rating for the company.

Insider Transactions at Cyclacel Pharmaceuticals

In other Cyclacel Pharmaceuticals news, CEO David E. Lazar sold 194,628,820 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $0.03, for a total value of $5,838,864.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.97% of the stock is owned by insiders.

About Cyclacel Pharmaceuticals

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.