StockNews.com Begins Coverage on Cyclacel Pharmaceuticals (NASDAQ:CYCC)

Stock analysts at StockNews.com assumed coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a report issued on Wednesday. The firm set a “sell” rating on the biotechnology company’s stock.

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

Cyclacel Pharmaceuticals Stock Up 2.1 %

Shares of CYCC opened at $0.32 on Wednesday. The company has a market cap of $2.04 million, a P/E ratio of -0.03 and a beta of 0.38. Cyclacel Pharmaceuticals has a fifty-two week low of $0.31 and a fifty-two week high of $4.00. The firm’s 50 day moving average price is $0.50 and its 200 day moving average price is $1.05.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its quarterly earnings results on Tuesday, November 12th. The biotechnology company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.36. The business had revenue of $0.01 million during the quarter, compared to the consensus estimate 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%. Research analysts forecast that Cyclacel Pharmaceuticals will post -1.95 earnings per share for the current year.

Institutional Trading of Cyclacel Pharmaceuticals

An institutional investor recently bought a new position in Cyclacel Pharmaceuticals stock. Armistice Capital LLC bought a new position in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing. 23.58% of the stock is owned by institutional investors and hedge funds.

Cyclacel Pharmaceuticals Company Profile

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.