Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) Sees Large Decrease in Short Interest

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

Analysts Set New Price Targets

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

Institutional Trading of Shuttle Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC acquired a new stake in shares of Shuttle Pharmaceuticals in the fourth quarter valued at approximately $26,000. Boothbay Fund Management LLC acquired a new position in shares of Shuttle Pharmaceuticals in the fourth quarter valued at $37,000. Ikarian Capital LLC acquired a new position in shares of Shuttle Pharmaceuticals in the fourth quarter valued at $124,000. Finally, Connective Capital Management LLC acquired a new position in shares of Shuttle Pharmaceuticals in the third quarter valued at $357,000. 4.58% of the stock is currently owned by institutional investors and hedge funds.

Shuttle Pharmaceuticals Price Performance

Shares of SHPH stock traded down $0.15 during trading hours on Monday, reaching $3.76. The company had a trading volume of 51,414 shares, compared to its average volume of 220,376. The company has a 50 day moving average of $7.12 and a 200 day moving average of $11.85. The firm has a market cap of $2.40 million, a price-to-earnings ratio of -0.79 and a beta of 0.18. Shuttle Pharmaceuticals has a 1-year low of $3.57 and a 1-year high of $55.90.

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

Shuttle Pharmaceuticals Company Profile

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 .