Short Interest in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) Declines By 70.7%

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 53,600 shares, a drop of 70.7% from the February 28th total of 182,800 shares. Based on an average daily trading volume, of 2,220,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.6% of the company’s stock are sold short.

Cyclacel Pharmaceuticals Trading Down 2.2 %

Shares of CYCC traded down $0.01 during trading hours on Friday, reaching $0.30. 110,820 shares of the company traded hands, compared to its average volume of 1,209,721. The firm has a market cap of $1.88 million, a price-to-earnings ratio of -0.03 and a beta of 0.28. The stock’s fifty day moving average price is $0.33 and its 200 day moving average price is $0.52. Cyclacel Pharmaceuticals has a 12-month low of $0.29 and a 12-month high of $4.00.

Insider Buying and Selling at Cyclacel Pharmaceuticals

In related news, CEO David E. Lazar sold 194,628,820 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $0.03, for a total transaction of $5,838,864.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 23.97% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Cyclacel Pharmaceuticals in a research report on Sunday, March 23rd. They set a “sell” rating for the company.

Cyclacel Pharmaceuticals Company Profile

Cyclacel Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases in the United States, the United Kingdom, and internationally. 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 and hematological malignancies, 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 solid tumors and hematological malignancies.