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

Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 21,975 shares, a decline of 44.1% from the August 31st total of 39,331 shares. Currently, 3.5% of the company’s shares are short sold. Based on an average daily volume of 27,758 shares, the short-interest ratio is currently 0.8 days.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings cut Shuttle Pharmaceuticals from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday. Wall Street Zen upgraded Shuttle Pharmaceuticals to a “sell” rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Insider Activity

In other news, major shareholder Financial Lp Hrt acquired 8,266 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were bought 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 $204,625.20. This trade represents a 15.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 38,133 shares of company stock valued at $132,128 in the last ninety days. 0.36% of the stock is currently owned by insiders.

Shuttle Pharmaceuticals Trading Up 0.9%

Shares of SHPH traded up $0.04 during mid-day trading on Thursday, hitting $4.08. The company’s stock had a trading volume of 12,285 shares, compared to its average volume of 843,144. The company’s 50-day moving average is $3.65 and its 200-day moving average is $5.33. Shuttle Pharmaceuticals has a 52-week low of $2.58 and a 52-week high of $55.90. The firm has a market capitalization of $2.61 million, a price-to-earnings ratio of -0.22 and a beta of 0.21.

About Shuttle Pharmaceuticals

Shuttle Pharmaceuticals Holdings, Inc is a clinical-stage specialty pharmaceutical company focused on developing therapies designed to improve the effectiveness of radiation treatment for cancer patients. The company’s research centers on radiosensitizers, which are intended to make tumor cells more sensitive to radiation while helping preserve surrounding healthy tissue.

Shuttle’s lead product candidate is ropidoxuridine, an orally administered investigational therapy being developed for use in combination with radiation therapy.