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

Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 441,245 shares, a growth of 279.6% from the April 30th total of 116,241 shares. Based on an average daily volume of 3,204,496 shares, the short-interest ratio is currently 0.1 days. Currently, 8.6% of the shares of the company are short sold.

Hedge Funds Weigh In On Shuttle Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in SHPH. Connective Capital Management LLC acquired a new position in Shuttle Pharmaceuticals in the 3rd quarter valued at about $357,000. Ikarian Capital LLC acquired a new position in Shuttle Pharmaceuticals in the 4th quarter valued at about $124,000. Boothbay Fund Management LLC acquired a new position in Shuttle Pharmaceuticals in the 4th quarter valued at about $37,000. Finally, Geode Capital Management LLC acquired a new position in Shuttle Pharmaceuticals in the 4th quarter valued at about $26,000. Institutional investors and hedge funds own 4.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Shuttle Pharmaceuticals from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Shuttle Pharmaceuticals Trading Down 2.4%

Shares of Shuttle Pharmaceuticals stock traded down $0.01 on Friday, hitting $0.53. The stock had a trading volume of 286,109 shares, compared to its average volume of 1,914,993. The stock has a market cap of $3.07 million, a price-to-earnings ratio of -0.11 and a beta of 0.38. Shuttle Pharmaceuticals has a 52-week low of $0.50 and a 52-week high of $6.19. The company’s 50 day moving average price is $0.78 and its 200 day moving average price is $1.30.

Shuttle Pharmaceuticals (NASDAQ:SHPH) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.43) earnings per share (EPS) 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 .