Short Interest in Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) Expands By 310.9%

Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ:SHPH) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 137,273 shares, an increase of 310.9% from the June 15th total of 33,404 shares. Approximately 24.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,260,794 shares, the days-to-cover ratio is currently 0.0 days.

Insider Buying and Selling

In related news, major shareholder Financial Lp Hrt purchased 8,266 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was bought at an average price of $3.38 per share, with a total value of $27,939.08. Following the completion of the transaction, the insider owned 60,540 shares of the company’s stock, valued at approximately $204,625.20. This represents a 15.81% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders acquired 53,398 shares of company stock worth $181,764 and sold 38,133 shares worth $132,128. Company insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Ikarian Capital LLC purchased a new stake in Shuttle Pharmaceuticals in the fourth quarter valued at approximately $124,000. Boothbay Fund Management LLC purchased a new position in Shuttle Pharmaceuticals during the fourth quarter worth approximately $37,000. Geode Capital Management LLC purchased a new position in Shuttle Pharmaceuticals during the fourth quarter worth approximately $26,000. Finally, Connective Capital Management LLC purchased a new position in Shuttle Pharmaceuticals during the third quarter worth approximately $357,000. 4.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Weiss Ratings raised shares of Shuttle Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Wall Street Zen raised shares of Shuttle Pharmaceuticals to a “sell” rating in a research report on Saturday, July 4th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Shuttle Pharmaceuticals currently has a consensus rating of “Sell”.

Shuttle Pharmaceuticals Stock Performance

Shuttle Pharmaceuticals stock traded up $1.07 during trading on Tuesday, hitting $4.03. The company’s stock had a trading volume of 46,705,587 shares, compared to its average volume of 1,042,899. The stock’s fifty day moving average is $4.86 and its 200 day moving average is $9.96. Shuttle Pharmaceuticals has a 1-year low of $2.71 and a 1-year high of $55.90. The stock has a market capitalization of $2.58 million, a price-to-earnings ratio of -0.08 and a beta of 0.29.

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 .