Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) Sees Large Decline in Short Interest

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 26,600 shares, a drop of 35.9% from the February 29th total of 41,500 shares. Based on an average trading volume of 163,500 shares, the days-to-cover ratio is presently 0.2 days. Currently, 2.2% of the company’s stock are short sold.

Cyclacel Pharmaceuticals Stock Up 7.6 %

Shares of NASDAQ CYCC traded up $0.15 during trading on Friday, reaching $2.11. 46,138 shares of the company traded hands, compared to its average volume of 40,241. The firm has a 50 day simple moving average of $2.43 and a 200-day simple moving average of $4.25. The stock has a market capitalization of $1.77 million, a PE ratio of -0.08 and a beta of 0.56. Cyclacel Pharmaceuticals has a 52-week low of $1.82 and a 52-week high of $13.20.

Institutional Trading of Cyclacel Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Cyclacel Pharmaceuticals by 25.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 770,400 shares of the biotechnology company’s stock worth $514,000 after buying an additional 155,200 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Cyclacel Pharmaceuticals by 166.0% in the third quarter. Renaissance Technologies LLC now owns 167,600 shares of the biotechnology company’s stock worth $245,000 after buying an additional 104,600 shares during the last quarter. Millennium Management LLC boosted its holdings 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 buying an additional 12,617 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Cyclacel Pharmaceuticals in the third quarter worth approximately $98,000. Finally, Virtu Financial LLC purchased a new position in shares of Cyclacel Pharmaceuticals in the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 23.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Brookline Capital Management lowered shares of Cyclacel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. StockNews.com upgraded shares of Cyclacel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Roth Mkm raised their price objective on shares of Cyclacel Pharmaceuticals from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th.

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 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.