SHPH Surges After Hours, Crosses Above 5-Day SMA
Shares of Shuttle Pharmaceuticals Holdings Inc. (SHPH.O) experienced a notable rebound in after-hours trading, surging 27.87% to $2.34, following a regular session decline of 7.58% to $1.83. This significant after-hours movement has propelled the stock above its 5-day simple moving average (SMA), indicating a potential shift in momentum.
The recent volatility comes on the heels of the company's filing of a Form S-1 registration statement with the SEC, aimed at the resale of 625,156 common shares linked to a pre-funded warrant. Additionally, Shuttle Pharmaceuticals successfully completed a private placement on November 4, raising approximately $2.5 million in gross proceeds, which may have bolstered investor confidence despite the stock's year-to-date decline of 91.4%.
With a current market capitalization of $2.93 million and 1,603,285 outstanding shares, the stock's recent performance highlights a critical juncture for investors as it navigates through a challenging market landscape.
Analyst Views on SHPH
About SHPH
About the author






