Cyclacel Pharmaceuticals, Inc. (CYCC) Sees Significant Drop in Short Interest
Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 441,830 shares, a decline of 35.8% from the August 15th total of 688,157 shares. Based on an average daily volume of 239,223 shares, the days-to-cover ratio is currently 1.8 days. Currently, 3.9% of the company’s shares are short sold.
In related news, major shareholder Eastern Capital Ltd acquired 850,000 shares of the stock in a transaction on Wednesday, July 19th. The stock was purchased at an average price of $2.00 per share, for a total transaction of $1,700,000.00. Following the completion of the transaction, the insider now owns 2,167,261 shares of the company’s stock, valued at approximately $4,334,522. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.00% of the company’s stock.
Shares of Cyclacel Pharmaceuticals (CYCC) opened at 1.71 on Wednesday. Cyclacel Pharmaceuticals has a 12 month low of $1.56 and a 12 month high of $10.90. The firm has a 50-day moving average price of $1.69 and a 200 day moving average price of $3.66.
Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.50) EPS for the quarter. Cyclacel Pharmaceuticals had a negative return on equity of 68.88% and a negative net margin of 1,128.13%. On average, analysts expect that Cyclacel Pharmaceuticals will post ($2.25) earnings per share for the current fiscal year.
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Cyclacel Pharmaceuticals Company Profile
Cyclacel Pharmaceuticals, Inc operates in the field of cell cycle biology. The Company has generated various families of anticancer drugs that act on the cell cycle, including nucleoside analogs, cyclin dependent kinase (CDK) inhibitors, polo-like kinase (PLK) inhibitors and Aurora Kinase/vascular endothelial growth factor receptor (AK/VEGFR) inhibitors.
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