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

Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH)’s share price was down 3.3% during mid-day trading on Wednesday . The stock traded as low as $3.42 and last traded at $3.49. 24,148 shares were traded during mid-day 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

SHPH has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of Shuttle Pharmaceuticals from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, August 21st. Wall Street Zen upgraded Shuttle Pharmaceuticals to a “sell” rating in a report on Saturday, July 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Shuttle Pharmaceuticals has a consensus rating of “Sell”.

Shuttle Pharmaceuticals Trading Up 1.7%

The business’s 50 day simple moving average is $3.57 and its two-hundred day simple moving average is $6.19. The firm has a market capitalization of $2.27 million, a PE ratio of -0.07 and a beta of 0.21.

Insiders Place Their Bets

In other news, major shareholder Financial Lp Hrt bought 25,836 shares of the company’s stock in a transaction on Monday, June 29th. The shares were acquired at an average cost of $3.44 per share, with a total value of $88,875.84. Following the completion of the transaction, the insider owned 71,842 shares of the company’s stock, valued at approximately $247,136.48. This trade represents a 56.16% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders bought 53,398 shares of company stock valued at $181,764 and sold 38,133 shares valued at $132,128. Corporate insiders own 0.36% of the company’s stock.

Institutional Trading of Shuttle Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC bought a new position in Shuttle Pharmaceuticals in the fourth quarter worth approximately $26,000. Boothbay Fund Management LLC bought a new stake in shares of Shuttle Pharmaceuticals during the 4th quarter valued at $37,000. Ikarian Capital LLC purchased a new stake in shares of Shuttle Pharmaceuticals in the 4th quarter worth $124,000. Finally, Connective Capital Management LLC bought a new position in Shuttle Pharmaceuticals in the 3rd quarter worth $357,000. 4.58% of the stock is currently owned by institutional investors.

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 .