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

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 24,300 shares, a decrease of 8.6% from the March 15th total of 26,600 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily volume of 145,700 shares, the days-to-cover ratio is currently 0.2 days.

Cyclacel Pharmaceuticals Stock Up 6.4 %

Shares of CYCC traded up $0.10 on Tuesday, hitting $1.67. 47,869 shares of the stock traded hands, compared to its average volume of 135,133. The firm has a market capitalization of $2.20 million, a P/E ratio of -0.06 and a beta of 0.54. Cyclacel Pharmaceuticals has a 1 year low of $1.52 and a 1 year high of $13.20. The stock’s 50 day moving average is $2.37 and its two-hundred day moving average is $3.99.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its quarterly earnings data on Tuesday, March 19th. The biotechnology company reported ($6.23) EPS for the quarter, beating analysts’ consensus estimates of ($6.35) by $0.12. The business had revenue of $0.03 million during the quarter. Research analysts forecast that Cyclacel Pharmaceuticals will post -18.7 EPS for the current year.

Institutional Trading of Cyclacel Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in shares of Cyclacel Pharmaceuticals by 6.5% in the fourth quarter. Millennium Management LLC now owns 208,062 shares of the biotechnology company’s stock worth $139,000 after acquiring an additional 12,617 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Cyclacel Pharmaceuticals in the 2nd quarter valued at $33,000. HRT Financial LP acquired a new position in shares of Cyclacel Pharmaceuticals in the 4th quarter valued at $27,000. Renaissance Technologies LLC purchased a new stake in shares of Cyclacel Pharmaceuticals during the 2nd quarter valued at $68,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Cyclacel Pharmaceuticals during the 3rd quarter worth $98,000. Hedge funds and other institutional investors own 23.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CYCC shares. StockNews.com began coverage on Cyclacel Pharmaceuticals in a research report on Tuesday. They set a “hold” rating for the company. Roth Mkm upped their price objective on Cyclacel Pharmaceuticals from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Finally, Brookline Capital Management lowered Cyclacel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th.

About Cyclacel Pharmaceuticals

Cyclacel Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases. 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, 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 leukemias and solid tumors.