Cyclacel Pharmaceuticals (NASDAQ:CYCC) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a report issued on Friday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Separately, Roth Capital lowered shares of Cyclacel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Cyclacel Pharmaceuticals Stock Performance

Shares of CYCC traded down $0.02 during midday trading on Friday, hitting $0.37. 424,996 shares of the company’s stock traded hands, compared to its average volume of 4,380,705. Cyclacel Pharmaceuticals has a 1 year low of $0.35 and a 1 year high of $6.00. The firm’s fifty day moving average is $0.85 and its 200-day moving average is $1.42.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.36. Cyclacel Pharmaceuticals had a negative return on equity of 1,901.11% and a negative net margin of 18,150.00%. The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.01 million. Equities research analysts predict that Cyclacel Pharmaceuticals will post -1.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cyclacel Pharmaceuticals

An institutional investor recently bought a new position in Cyclacel Pharmaceuticals stock. Armistice Capital LLC purchased a new position in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned 9.18% of Cyclacel Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 23.58% of the company’s stock.

About Cyclacel Pharmaceuticals

Cyclacel Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases in the United States, the United Kingdom, and internationally. The company's lead product includes fadraciclib, a cyclin dependent kinase Inhibitors (CDK) that is in Phase 1/2 clinical trial for the treatment of solid tumors and hematological malignancies, as well as in combination with venetoclax to treat relapsed or refractory chronic lymphocytic leukemia; and Plogosertib, a polo-like kinase inhibitor program, which is in Phase 1/2 clinical trial for the treatment of advanced solid tumors and hematological malignancies.