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

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 66,800 shares, a growth of 83.0% from the October 15th total of 36,500 shares. Based on an average trading volume of 1,140,000 shares, the short-interest ratio is currently 0.1 days. Currently, 3.3% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research firms have issued reports on CYCC. StockNews.com assumed coverage on shares of Cyclacel Pharmaceuticals in a report on Thursday, November 7th. They issued a “sell” rating on the stock. Roth Capital downgraded shares of Cyclacel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd.

Institutional Investors Weigh In On Cyclacel Pharmaceuticals

An institutional investor recently bought a new position in Cyclacel Pharmaceuticals stock. Armistice Capital LLC acquired a new position in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned about 9.18% of Cyclacel Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 23.58% of the company’s stock.

Cyclacel Pharmaceuticals Price Performance

Cyclacel Pharmaceuticals stock traded up $0.04 during trading hours on Wednesday, hitting $0.45. The company had a trading volume of 12,646,777 shares, compared to its average volume of 712,241. The firm has a market capitalization of $967,500.00, a P/E ratio of -0.05 and a beta of 0.56. The firm’s fifty day moving average is $0.88 and its 200-day moving average is $1.44. Cyclacel Pharmaceuticals has a fifty-two week low of $0.37 and a fifty-two week high of $7.84.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.36. The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.01 million. Cyclacel Pharmaceuticals had a negative net margin of 18,150.00% and a negative return on equity of 1,901.11%. Analysts anticipate that Cyclacel Pharmaceuticals will post -2.29 earnings per share for the current year.

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.