Short Interest in Cyclacel Pharmaceuticals, Inc. (NASDAQ:BGMS) Drops By 40.3%

Cyclacel Pharmaceuticals, Inc. (NASDAQ:BGMS) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 34,897 shares, a drop of 40.3% from the August 15th total of 58,435 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average trading volume of 13,850 shares, the days-to-cover ratio is presently 2.5 days.

Cyclacel Pharmaceuticals Stock Performance

NASDAQ BGMS opened at $0.99 on Thursday. The firm has a 50-day moving average of $0.91 and a 200-day moving average of $0.94. The stock has a market cap of $5.47 million, a PE ratio of -0.27 and a beta of -0.40. Cyclacel Pharmaceuticals has a 52-week low of $0.57 and a 52-week high of $6.70.

Cyclacel Pharmaceuticals (NASDAQ:BGMS) last announced its earnings results on Friday, August 14th. The company reported ($0.08) EPS for the quarter. Cyclacel Pharmaceuticals had a negative return on equity of 31.60% and a negative net margin of 118.27%.The company had revenue of $0.34 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Cyclacel Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Cyclacel Pharmaceuticals Company Profile

Cyclacel Pharmaceuticals is a clinical-stage biopharmaceutical company that focuses on developing small-molecule therapies that target the cell cycle and related regulatory pathways for the treatment of cancer and other proliferative diseases. The company’s research and development efforts center on kinase and cell-cycle inhibitors designed to disrupt tumor growth and induce cancer cell death. Cyclacel advances programs through preclinical development and clinical trials with the aim of delivering new therapeutic options for patients with solid tumors and hematologic malignancies.

Key activities at Cyclacel include in-house drug discovery, translational research, and the clinical development of lead candidate molecules.