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

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

Shuttle Pharmaceuticals Price Performance

Shares of Shuttle Pharmaceuticals stock traded down $0.32 on Friday, reaching $4.26. 33,981 shares of the company were exchanged, compared to its average volume of 1,012,812. Shuttle Pharmaceuticals has a 1-year low of $2.58 and a 1-year high of $55.90. The company has a market cap of $2.72 million, a P/E ratio of -0.09 and a beta of 0.21. The stock’s 50 day moving average price is $3.69 and its 200-day moving average price is $7.59.

Insiders Place Their Bets

In other Shuttle Pharmaceuticals news, major shareholder Financial Lp Hrt purchased 25,836 shares of the business’s stock in a transaction on Monday, June 29th. The shares were bought at an average cost of $3.44 per share, for a total transaction of $88,875.84. Following the completion of the purchase, the insider directly owned 71,842 shares of the company’s stock, valued at approximately $247,136.48. This trade represents a 56.16% 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. Over the last three months, insiders bought 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SHPH. Geode Capital Management LLC purchased a new stake in shares of Shuttle Pharmaceuticals in the 4th quarter valued at approximately $26,000. Boothbay Fund Management LLC purchased a new stake in shares of Shuttle Pharmaceuticals during the 4th quarter worth $37,000. Ikarian Capital LLC purchased a new stake in shares of Shuttle Pharmaceuticals during the 4th quarter worth $124,000. Finally, Connective Capital Management LLC purchased a new stake in shares of Shuttle Pharmaceuticals during the 3rd quarter worth $357,000. Hedge funds and other institutional investors own 4.58% of the company’s stock.

Analyst Upgrades and Downgrades

SHPH has been the subject of a number of research reports. Wall Street Zen upgraded shares of Shuttle Pharmaceuticals to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings upgraded shares of Shuttle Pharmaceuticals from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

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 .