Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) Short Interest Up 49.8% in August

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 96,300 shares, an increase of 49.8% from the August 15th total of 64,300 shares. Approximately 9.4% of the company’s stock are sold short. Based on an average daily volume of 1,800,000 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 1,800,000 shares, the short-interest ratio is presently 0.1 days. Approximately 9.4% of the company’s stock are sold short.

Cyclacel Pharmaceuticals Stock Down 4.9%

NASDAQ:CYCC opened at $6.44 on Thursday. The business’s 50-day simple moving average is $8.80 and its two-hundred day simple moving average is $30.80. The stock has a market cap of $14.43 million, a PE ratio of -0.01 and a beta of 0.15. Cyclacel Pharmaceuticals has a 52 week low of $3.08 and a 52 week high of $597.60.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its quarterly earnings results on Wednesday, August 13th. The biotechnology company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($72.00) by $71.02.

Insider Activity

In other news, major shareholder David E. Lazar sold 6,750 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $12.36, for a total value of $83,430.00. Following the transaction, the insider directly owned 155,838 shares in the company, valued at $1,926,157.68. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 51.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cyclacel Pharmaceuticals

A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC raised its holdings in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) by 118.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,269,485 shares of the biotechnology company’s stock after acquiring an additional 689,024 shares during the quarter. Armistice Capital LLC owned approximately 0.61% of Cyclacel Pharmaceuticals worth $354,000 as of its most recent SEC filing. 23.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Cyclacel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

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.