Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) Short Interest Up 213.0% in July

Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 429,660 shares, an increase of 213.0% from the June 30th total of 137,273 shares. Based on an average trading volume of 7,541,738 shares, the days-to-cover ratio is currently 0.1 days. Currently, 77.1% of the shares of the stock are sold short.

Insider Buying and Selling at Shuttle Pharmaceuticals

In related news, major shareholder Financial Lp Hrt bought 25,836 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was bought at an average cost of $3.44 per share, with a total value of $88,875.84. Following the completion of the purchase, the insider owned 71,842 shares of the company’s stock, valued at approximately $247,136.48. The trade was a 56.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have acquired 53,398 shares of company stock worth $181,764 and have sold 38,133 shares worth $132,128. Corporate insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On Shuttle Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC bought a new stake in shares of Shuttle Pharmaceuticals in the 4th quarter worth about $26,000. Boothbay Fund Management LLC bought a new position in shares of Shuttle Pharmaceuticals in the 4th quarter valued at about $37,000. Ikarian Capital LLC purchased a new position in Shuttle Pharmaceuticals in the fourth quarter worth about $124,000. Finally, Connective Capital Management LLC purchased a new position in Shuttle Pharmaceuticals in the third quarter worth about $357,000. 4.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SHPH. Wall Street Zen raised shares of Shuttle Pharmaceuticals to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings lowered Shuttle Pharmaceuticals from a “sell (e+)” rating to a “sell (e)” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Shuttle Pharmaceuticals presently has a consensus rating of “Sell”.

Shuttle Pharmaceuticals Stock Performance

Shares of SHPH opened at $2.79 on Wednesday. The company’s fifty day moving average is $4.06 and its 200 day moving average is $8.80. Shuttle Pharmaceuticals has a fifty-two week low of $2.71 and a fifty-two week high of $55.90. The stock has a market capitalization of $1.79 million, a PE ratio of -0.06 and a beta of 0.29.

About Shuttle Pharmaceuticals

Shuttle Pharmaceuticals Holdings, Inc, a clinical stage pharmaceutical company, develops novel therapies to cure cancers. It develops Ropidoxuridine, an oral halogenated pyrimidine to treat patients with brain tumors and sarcomas SP-1-161, an HDAC inhibitor that initiates the mutated in ataxia-telangiectasia response pathway for radiation sensitizing cancer cells and protecting normal cells; SP-2-225, a pre-clinical class IIb that effects on the regulation of the immune system; and SP-1-303, a pre-clinical selective Class I HDAC for the treatment of ER positive cancers .