Cyclacel Pharmaceuticals, Inc. (NASDAQ:BGMS) Sees Large Drop in Short Interest

Cyclacel Pharmaceuticals, Inc. (NASDAQ:BGMS) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 5,591 shares, a decline of 93.8% from the September 15th total of 90,785 shares. Based on an average daily trading volume, of 21,117 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company’s stock are sold short.

Cyclacel Pharmaceuticals Stock Up 3.4%

Shares of NASDAQ BGMS traded up $0.03 during trading hours on Friday, hitting $0.85. The company had a trading volume of 14,672 shares, compared to its average volume of 809,095. Cyclacel Pharmaceuticals has a 1-year low of $0.57 and a 1-year high of $6.70. The firm’s 50 day moving average is $0.90 and its 200-day moving average is $0.94. The stock has a market capitalization of $4.69 million, a P/E ratio of -0.23 and a beta of -0.39.

Cyclacel Pharmaceuticals (NASDAQ:BGMS) last issued 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 firm had revenue of $0.34 million for the quarter.

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 equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has an average rating of “Sell”.

About Cyclacel Pharmaceuticals

Cyclacel Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing targeted medicines for the treatment of cancer. Its research programs center on small-molecule therapies designed to interfere with key cell-cycle and transcription processes involved in tumor growth.

The company’s pipeline has included fadraciclib (CYC065), an oral cyclin-dependent kinase inhibitor being studied for advanced solid tumors and hematologic malignancies. Cyclacel has also developed sapacitabine (CYC682), an oral nucleoside analog, and seliciclib (CYC202), an earlier-stage cyclin-dependent kinase inhibitor.