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

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) was the recipient of a large growth in short interest in 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 currently 0.5 days. Approximately 11.1% of the shares of the company are sold short.

Cyclacel Pharmaceuticals Price Performance

Shares of CYCC stock traded down $0.01 during mid-day trading 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’s 50 day moving average price is $0.75 and its 200-day moving average price is $1.32. Cyclacel Pharmaceuticals has a 52-week low of $0.32 and a 52-week high of $6.00. The company has a market capitalization of $2.17 million, a P/E ratio of -0.04 and a beta of 0.56.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.36. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate 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%. On average, equities research analysts expect that Cyclacel Pharmaceuticals will post -1.95 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com initiated coverage on shares of Cyclacel Pharmaceuticals in a research note on Saturday. They set 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.

Institutional Investors Weigh In On Cyclacel Pharmaceuticals

A hedge fund recently bought a new stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC bought a new stake in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned approximately 9.18% of Cyclacel Pharmaceuticals at the end of the most recent quarter. 23.58% of the stock is owned by institutional investors.

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.