Cyclacel Pharmaceuticals Inc (CYCC) Sees Large Decline in Short Interest

Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) saw a significant drop in short interest during the month of March. As of March 29th, there was short interest totalling 223,498 shares, a drop of 56.4% from the March 15th total of 512,377 shares. Based on an average daily volume of 1,931,136 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.8% of the shares of the company are sold short.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research downgraded Cyclacel Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. ValuEngine downgraded Cyclacel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, January 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $5.63.

Shares of NASDAQ:CYCC opened at $0.74 on Tuesday. The stock has a market capitalization of $12.52 million, a PE ratio of -1.19 and a beta of 3.51. Cyclacel Pharmaceuticals has a 52-week low of $0.51 and a 52-week high of $1.87.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its quarterly earnings results on Wednesday, March 27th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.17). The business had revenue of $0.15 million during the quarter. Sell-side analysts predict that Cyclacel Pharmaceuticals will post -0.77 EPS for the current year.

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About Cyclacel Pharmaceuticals

Cyclacel Pharmaceuticals, Inc, a biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases. The company's oncology development programs include sapacitabine, a novel orally-available nucleoside analog that is in Phase III clinical trial for the front-line treatment of acute myeloid leukemia; and Phase II clinical trial for the treatment of myelodysplastic syndromes.

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