Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) Sees Significant Growth in Short Interest

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

Cyclacel Pharmaceuticals Stock Performance

NASDAQ CYCC traded up $0.09 on Friday, reaching $0.43. The company’s stock had a trading volume of 861,629 shares, compared to its average volume of 695,894. Cyclacel Pharmaceuticals has a twelve month low of $0.32 and a twelve month high of $6.00. The firm’s 50 day moving average is $0.72 and its two-hundred day moving average is $1.31. The stock has a market cap of $2.73 million, a PE ratio of -0.04 and a beta of 0.56.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last released its quarterly earnings results 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. Cyclacel Pharmaceuticals had a negative return on equity of 1,901.11% and a negative net margin of 18,150.00%. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.01 million. Equities research analysts anticipate that Cyclacel Pharmaceuticals will post -1.95 EPS for the current fiscal year.

Institutional Trading of Cyclacel Pharmaceuticals

A hedge fund recently bought a new stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC bought a new position in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 23.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CYCC. StockNews.com started coverage on shares of Cyclacel Pharmaceuticals in a research note on Saturday, November 23rd. They issued a “sell” rating for the company. Roth Capital cut Cyclacel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note 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.