Shuttle Pharmaceuticals (NASDAQ:SHPH) Trading Down 3.3% – Here’s What Happened

Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) traded down 3.3% during trading on Wednesday . The stock traded as low as $3.42 and last traded at $3.49. 24,148 shares were traded during trading, a decline of 84% from the average session volume of 146,551 shares. The stock had previously closed at $3.61.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Shuttle Pharmaceuticals to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings lowered Shuttle Pharmaceuticals from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Shuttle Pharmaceuticals Stock Down 3.3%

The company has a market cap of $2.22 million, a price-to-earnings ratio of -0.07 and a beta of 0.21. The stock’s 50-day simple moving average is $3.58 and its 200 day simple moving average is $6.24.

Insider Activity

In related news, major shareholder Financial Lp Hrt acquired 8,266 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were purchased at an average cost of $3.38 per share, for a total transaction of $27,939.08. Following the acquisition, the insider owned 60,540 shares in the company, valued at $204,625.20. The trade was a 15.81% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have purchased 53,398 shares of company stock valued at $181,764 and have sold 38,133 shares valued at $132,128. Company insiders own 0.36% of the company’s stock.

Institutional Trading of Shuttle Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in SHPH. Connective Capital Management LLC purchased a new stake in Shuttle Pharmaceuticals in the third quarter valued at approximately $357,000. Ikarian Capital LLC acquired a new position in Shuttle Pharmaceuticals during the fourth quarter worth $124,000. Boothbay Fund Management LLC purchased a new position in shares of Shuttle Pharmaceuticals during the fourth quarter worth $37,000. Finally, Geode Capital Management LLC purchased a new position in shares of Shuttle Pharmaceuticals during the fourth quarter worth $26,000. Institutional investors and hedge funds own 4.58% of the company’s stock.

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 .