Short Interest in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) Drops By 72.1%

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 187,700 shares, a decrease of 72.1% from the November 15th total of 672,100 shares. Based on an average daily volume of 1,510,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 3.1% of the company’s stock are short sold.

Institutional Trading of Cyclacel Pharmaceuticals

A hedge fund recently bought a new stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC acquired a new stake in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned approximately 9.18% of Cyclacel Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 23.58% of the company’s stock.

Cyclacel Pharmaceuticals Stock Up 2.9 %

Shares of CYCC traded up $0.01 during mid-day trading on Wednesday, hitting $0.40. 411,924 shares of the company traded hands, compared to its average volume of 696,320. The company has a market capitalization of $2.49 million, a PE ratio of -0.04 and a beta of 0.38. The business has a 50 day moving average of $0.63 and a 200 day moving average of $1.18. Cyclacel Pharmaceuticals has a 1-year low of $0.32 and a 1-year high of $4.38.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.36. The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.01 million. Cyclacel Pharmaceuticals had a negative return on equity of 1,901.11% and a negative net margin of 18,150.00%. As a group, research analysts expect that Cyclacel Pharmaceuticals will post -1.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on CYCC. StockNews.com assumed coverage on shares of Cyclacel Pharmaceuticals in a report on Monday. They issued a “sell” rating on the stock. Roth Capital downgraded Cyclacel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd.

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.