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

StockNews.com started coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a research note issued to investors on Tuesday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Cyclacel Pharmaceuticals Trading Down 4.4 %

Shares of CYCC stock opened at $0.83 on Tuesday. The company has a market capitalization of $1.79 million, a price-to-earnings ratio of -0.05 and a beta of 0.51. Cyclacel Pharmaceuticals has a 1-year low of $0.75 and a 1-year high of $10.12. The stock’s fifty day simple moving average is $1.04 and its 200-day simple moving average is $1.56.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11. Cyclacel Pharmaceuticals had a negative return on equity of 1,901.11% and a negative net margin of 21,963.75%. During the same period in the prior year, the business posted ($6.60) EPS. On average, sell-side analysts predict that Cyclacel Pharmaceuticals will post -2.29 EPS for the current year.

Hedge Funds Weigh In On Cyclacel Pharmaceuticals

An institutional investor recently bought a new position in Cyclacel Pharmaceuticals stock. Armistice Capital LLC bought a new position in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned about 9.18% of Cyclacel Pharmaceuticals at the end of the most recent reporting period. 23.58% of the stock is currently owned by institutional investors.

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.