CytRx Co. (NASDAQ:CYTR) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 540,358 shares, a decline of 39.6% from the August 15th total of 894,113 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average daily volume of 117,563 shares, the days-to-cover ratio is presently 4.6 days.

A number of analysts have issued reports on CYTR shares. Zacks Investment Research raised CytRx from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a research report on Thursday, May 31st. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of CytRx in a research report on Tuesday, August 7th.

Shares of NASDAQ CYTR opened at $1.04 on Tuesday. The company has a market capitalization of $35.32 million, a price-to-earnings ratio of -0.70 and a beta of 1.88. CytRx has a 52-week low of $1.02 and a 52-week high of $2.95.

CytRx (NASDAQ:CYTR) last announced its earnings results on Monday, August 6th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. equities research analysts expect that CytRx will post -0.42 EPS for the current year.

A hedge fund recently raised its stake in CytRx stock. BlackRock Inc. lifted its stake in shares of CytRx Co. (NASDAQ:CYTR) by 31.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 302,983 shares of the biotechnology company’s stock after acquiring an additional 72,879 shares during the quarter. BlackRock Inc. owned 0.90% of CytRx worth $343,000 as of its most recent filing with the Securities and Exchange Commission. 10.08% of the stock is currently owned by institutional investors.

About CytRx

CytRx Corporation, a biopharmaceutical company, engages in the research and clinical development of novel anti-cancer drug candidates that employ linker technologies to enhance the accumulation and release of drug at the tumor. The company is developing its pipeline of oncology candidates at its laboratory facilities in Freiburg, Germany, through its LADR (linker activated drug release) technology platform, a discovery engine designed to leverage its expertise in albumin biology and linker technology for the development of anti-cancer therapies.

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