Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) Short Interest Down 86.9% in July

Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 56,379 shares, a decrease of 86.9% from the July 15th total of 429,660 shares. Based on an average trading volume of 736,949 shares, the days-to-cover ratio is currently 0.1 days. Currently, 9.0% of the shares of the stock are short sold.

Shuttle Pharmaceuticals Stock Down 3.9%

Shares of NASDAQ:SHPH traded down $0.17 during midday trading on Wednesday, reaching $4.14. The company’s stock had a trading volume of 8,785 shares, compared to its average volume of 1,025,161. The firm has a market cap of $2.65 million, a price-to-earnings ratio of -0.09 and a beta of 0.21. The business has a 50 day moving average price of $3.71 and a 200 day moving average price of $7.87. Shuttle Pharmaceuticals has a 1 year low of $2.58 and a 1 year high of $55.90.

Insider Activity

In related news, major shareholder Financial Lp Hrt acquired 8,266 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were acquired at an average price of $3.38 per share, with a total value of $27,939.08. Following the completion of the purchase, the insider directly owned 60,540 shares in the company, valued at approximately $204,625.20. The trade was a 15.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders acquired 53,398 shares of company stock valued at $181,764 and sold 38,133 shares valued at $132,128. 1.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SHPH. Connective Capital Management LLC purchased a new position in shares of Shuttle Pharmaceuticals during the 3rd quarter worth about $357,000. Geode Capital Management LLC purchased a new stake in Shuttle Pharmaceuticals in the fourth quarter valued at approximately $26,000. Boothbay Fund Management LLC purchased a new stake in Shuttle Pharmaceuticals in the fourth quarter valued at approximately $37,000. Finally, Ikarian Capital LLC acquired a new position in Shuttle Pharmaceuticals during the fourth quarter worth approximately $124,000. Institutional investors and hedge funds own 4.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SHPH. Weiss Ratings raised shares of Shuttle Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Shuttle Pharmaceuticals to a “sell” rating in a research note on Saturday, July 4th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

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 .