Cyclacel Pharmaceuticals, Inc. (NASDAQ:BGMS) Shares Shorted: Short Interest Up 160.2% in September

Cyclacel Pharmaceuticals, Inc. (NASDAQ:BGMS) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 90,785 shares, an increase of 160.2% from the August 31st total of 34,897 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average trading volume of 332,530 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Cyclacel Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Cyclacel Pharmaceuticals presently has a consensus rating of “Sell”.

Cyclacel Pharmaceuticals Stock Down 1.8%

BGMS opened at $0.90 on Tuesday. Cyclacel Pharmaceuticals has a 12-month low of $0.57 and a 12-month high of $6.70. The business has a 50 day moving average of $0.91 and a 200-day moving average of $0.94. The stock has a market cap of $4.99 million, a price-to-earnings ratio of -0.25 and a beta of -0.40.

Cyclacel Pharmaceuticals (NASDAQ:BGMS) last posted its earnings results on Friday, August 14th. The company reported ($0.08) earnings per share for the quarter. Cyclacel Pharmaceuticals had a negative return on equity of 31.60% and a negative net margin of 118.27%.The business had revenue of $0.34 million for the quarter.

About Cyclacel Pharmaceuticals

Cyclacel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing targeted medicines for the treatment of cancer. The company’s research programs are designed to address molecular pathways involved in tumor growth and survival, with an emphasis on therapies for patients with limited treatment options.

Cyclacel’s pipeline has included fadraciclib, an oral cyclin-dependent kinase inhibitor designed to target CDK2 and CDK9, and sapacitabine, an oral nucleoside analogue investigated for certain hematologic malignancies and solid tumors.