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

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

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

Cyclacel Pharmaceuticals Trading Up 1.2 %

Shares of CYCC opened at $0.42 on Friday. The firm has a market cap of $2.64 million, a P/E ratio of -0.04 and a beta of 0.35. Cyclacel Pharmaceuticals has a 12 month low of $0.31 and a 12 month high of $4.00. The stock’s 50 day moving average is $0.39 and its two-hundred day moving average is $0.96.

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

Institutional Trading of Cyclacel Pharmaceuticals

A hedge fund recently bought a new stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC bought a new position in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned approximately 9.18% of Cyclacel Pharmaceuticals as of its most recent SEC filing. Hedge funds and other institutional investors 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.