Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) Short Interest Up 906.1% in November

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 672,100 shares, a growth of 906.1% from the October 31st total of 66,800 shares. Based on an average daily volume of 1,420,000 shares, the short-interest ratio is presently 0.5 days. Approximately 11.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Cyclacel Pharmaceuticals

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com began coverage on Cyclacel Pharmaceuticals in a research report on Saturday. They issued a “sell” rating on the stock. Roth Capital cut shares of Cyclacel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

Cyclacel Pharmaceuticals Stock Performance

Shares of CYCC traded down $0.01 during trading hours on Wednesday, hitting $0.35. The company had a trading volume of 206,704 shares, compared to its average volume of 697,393. The stock has a market capitalization of $2.17 million, a price-to-earnings ratio of -0.04 and a beta of 0.56. Cyclacel Pharmaceuticals has a 52-week low of $0.32 and a 52-week high of $6.00. The firm has a fifty day moving average price of $0.75 and a 200-day moving average price of $1.32.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.36. The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations 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%. Research analysts anticipate that Cyclacel Pharmaceuticals will post -1.95 earnings per share for the current fiscal year.

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.