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

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) was the target of a significant increase in short interest in 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. Approximately 11.1% of the company’s shares are short sold. Based on an average trading volume of 1,420,000 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

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

Cyclacel Pharmaceuticals Stock Performance

CYCC stock opened at $0.35 on Thursday. The firm has a 50 day simple moving average of $0.75 and a 200 day simple moving average of $1.32. Cyclacel Pharmaceuticals has a 52 week low of $0.32 and a 52 week high of $6.00.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.36. Cyclacel Pharmaceuticals had a negative net margin of 18,150.00% and a negative return on equity of 1,901.11%. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.01 million. On average, sell-side analysts forecast that Cyclacel Pharmaceuticals will post -1.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CYCC shares. StockNews.com assumed 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 report on Wednesday, October 23rd.

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.