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

Research analysts at StockNews.com began 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 shares of Cyclacel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Cyclacel Pharmaceuticals Price Performance

Shares of CYCC opened at $0.65 on Wednesday. The business’s 50 day simple moving average is $1.01 and its 200-day simple moving average is $1.53. Cyclacel Pharmaceuticals has a one year low of $0.60 and a one year high of $10.12. The company has a market capitalization of $1.40 million, a P/E ratio of -0.04 and a beta of 0.51.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced 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 last year, the firm earned ($6.60) earnings per share. On average, sell-side analysts anticipate that Cyclacel Pharmaceuticals will post -2.29 EPS 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 stake in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 filing with the Securities and Exchange Commission (SEC). 23.58% of the stock is currently owned by institutional investors.

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.