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

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) saw a large decrease in short interest in 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. Approximately 3.1% of the shares of the stock are short sold. Based on an average trading volume of 1,510,000 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

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

Cyclacel Pharmaceuticals Trading Up 2.9 %

CYCC stock traded up $0.01 during trading on Wednesday, reaching $0.40. 411,924 shares of the stock were exchanged, compared to its average volume of 696,320. The firm has a market capitalization of $2.49 million, a price-to-earnings ratio of -0.04 and a beta of 0.38. The business has a 50 day moving average price of $0.63 and a 200-day moving average price 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 issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.18) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.01 million. On average, research analysts anticipate that Cyclacel Pharmaceuticals will post -1.95 EPS for the current year.

Wall Street Analysts Forecast Growth

CYCC has been the topic of several recent research reports. Roth Capital cut Cyclacel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. StockNews.com assumed coverage on Cyclacel Pharmaceuticals in a research note on Monday. They set a “sell” rating on the stock.

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.