Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) Short Interest Down 48.9% in May

Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) was the recipient of a significant decline in short interest in May. As of May 29th, there was short interest totaling 225,674 shares, a decline of 48.9% from the May 14th total of 441,245 shares. Based on an average daily trading volume, of 279,716 shares, the days-to-cover ratio is presently 0.8 days. Approximately 4.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On Shuttle Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC purchased a new stake in Shuttle Pharmaceuticals during the fourth quarter valued at $26,000. Boothbay Fund Management LLC purchased a new stake in Shuttle Pharmaceuticals during the fourth quarter valued at $37,000. Ikarian Capital LLC purchased a new stake in Shuttle Pharmaceuticals during the fourth quarter valued at $124,000. Finally, Connective Capital Management LLC purchased a new stake in Shuttle Pharmaceuticals during the third quarter valued at $357,000. Hedge funds and other institutional investors own 4.58% of the company’s stock.

Shuttle Pharmaceuticals Price Performance

Shares of SHPH stock traded down $0.27 during mid-day trading on Friday, hitting $3.91. The company had a trading volume of 56,992 shares, compared to its average volume of 182,018. Shuttle Pharmaceuticals has a 52-week low of $3.57 and a 52-week high of $55.90. The stock’s 50 day moving average price is $7.12 and its 200-day moving average price is $11.87. The company has a market capitalization of $2.50 million, a P/E ratio of -0.82 and a beta of 0.18.

Shuttle Pharmaceuticals (NASDAQ:SHPH) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.60 earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Shuttle Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Shuttle Pharmaceuticals has a consensus rating of “Sell”.

About Shuttle Pharmaceuticals

Shuttle Pharmaceuticals Holdings, Inc, a clinical stage pharmaceutical company, develops novel therapies to cure cancers. It develops Ropidoxuridine, an oral halogenated pyrimidine to treat patients with brain tumors and sarcomas SP-1-161, an HDAC inhibitor that initiates the mutated in ataxia-telangiectasia response pathway for radiation sensitizing cancer cells and protecting normal cells; SP-2-225, a pre-clinical class IIb that effects on the regulation of the immune system; and SP-1-303, a pre-clinical selective Class I HDAC for the treatment of ER positive cancers .