Short Interest in Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) Drops By 43.2%

Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) was the target of a large drop in short interest in the month of February. As of February 14th, there was short interest totalling 169,900 shares, a drop of 43.2% from the January 30th total of 298,900 shares. Based on an average daily trading volume, of 260,100 shares, the days-to-cover ratio is presently 0.7 days. Approximately 1.0% of the company’s shares are short sold.

Several brokerages recently commented on CYCC. Zacks Investment Research downgraded Cyclacel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. ValuEngine raised Cyclacel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd.

An institutional investor recently raised its position in Cyclacel Pharmaceuticals stock. Renaissance Technologies LLC increased its holdings in shares of Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,269,326 shares of the biotechnology company’s stock after buying an additional 98,364 shares during the quarter. Renaissance Technologies LLC owned 7.38% of Cyclacel Pharmaceuticals worth $850,000 as of its most recent SEC filing. 9.45% of the stock is currently owned by institutional investors and hedge funds.

Cyclacel Pharmaceuticals stock traded down $0.01 during mid-day trading on Friday, hitting $0.53. 93,800 shares of the company’s stock were exchanged, compared to its average volume of 228,402. The firm has a market capitalization of $10.53 million, a P/E ratio of -0.95 and a beta of 3.11. Cyclacel Pharmaceuticals has a fifty-two week low of $0.28 and a fifty-two week high of $1.18. The company has a quick ratio of 7.65, a current ratio of 7.65 and a debt-to-equity ratio of 0.08. The company’s 50 day simple moving average is $0.74 and its 200-day simple moving average is $0.53.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.02). Research analysts expect that Cyclacel Pharmaceuticals will post -0.5 EPS for the current year.

Cyclacel Pharmaceuticals Company Profile

Cyclacel Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases. The company's oncology development programs include CYC065, a cyclin dependent kinase Inhibitors (CDK) that is in Phase I clinical trial for the treatment of solid tumors, as well as in combination with venetoclax to treat relapsed or refractory chronic lymphocytic leukemia; and CYC140, a polo-like kinase inhibitor program, which is in Phase I clinical trial for the treatment of advanced leukemias.

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