Shuttle Pharmaceuticals (NASDAQ:SHPH) Stock Price Down 4.5% – Here’s What Happened

Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) traded down 4.5% on Wednesday. The stock traded as low as $3.51 and last traded at $3.59. 49,025 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 56,340 shares. The stock had previously closed at $3.76.

Analysts Set New Price Targets

Several research firms have recently issued reports on SHPH. Weiss Ratings raised shares of Shuttle Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, September 9th. Wall Street Zen upgraded shares of Shuttle Pharmaceuticals to a “sell” rating in a report on Saturday, July 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Shuttle Pharmaceuticals Stock Up 0.2%

The firm has a 50 day moving average price of $3.59 and a two-hundred day moving average price of $5.48. The company has a market capitalization of $2.57 million, a price-to-earnings ratio of -0.08 and a beta of 0.21.

Insider Activity

In related news, major shareholder Financial Lp Hrt purchased 25,836 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was acquired at an average price of $3.44 per share, with a total value of $88,875.84. Following the completion of the transaction, the insider owned 71,842 shares of the company’s stock, valued at $247,136.48. This represents a 56.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders purchased 53,398 shares of company stock valued at $181,764 and sold 38,133 shares valued at $132,128. 0.36% of the stock is currently owned by insiders.

About Shuttle Pharmaceuticals

Shuttle Pharmaceuticals Holdings, Inc is a clinical-stage specialty pharmaceutical company focused on developing therapies designed to improve the effectiveness of radiation treatment for cancer patients. The company’s research centers on radiosensitizers, which are intended to make tumor cells more sensitive to radiation while helping preserve surrounding healthy tissue.

Shuttle’s lead product candidate is ropidoxuridine, an orally administered investigational therapy being developed for use in combination with radiation therapy.