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

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

Cyclacel Pharmaceuticals Stock Down 2.2 %

Shares of NASDAQ:CYCC traded down $0.01 during midday trading on Friday, reaching $0.30. 110,820 shares of the company traded hands, compared to its average volume of 1,205,085. Cyclacel Pharmaceuticals has a 12 month low of $0.29 and a 12 month high of $4.00. The firm’s fifty day moving average price is $0.33 and its two-hundred day moving average price is $0.53. The firm has a market capitalization of $1.88 million, a price-to-earnings ratio of -0.03 and a beta of 0.28.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Cyclacel Pharmaceuticals in a research note on Sunday, March 23rd. They set a “sell” rating on the stock.

Insider Activity at Cyclacel Pharmaceuticals

In related news, CEO David E. Lazar sold 194,628,820 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $0.03, for a total value of $5,838,864.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. 23.97% of the stock is owned by company insiders.

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.