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

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

Cyclacel Pharmaceuticals Stock Performance

NASDAQ:CYCC opened at $1.03 on Friday. The company’s 50-day simple moving average is $1.35 and its 200-day simple moving average is $1.80. Cyclacel Pharmaceuticals has a fifty-two week low of $0.95 and a fifty-two week high of $11.34. The stock has a market capitalization of $2.03 million, a P/E ratio of -0.05 and a beta of 0.52.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last released its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.11. Cyclacel Pharmaceuticals had a negative net margin of 21,963.75% and a negative return on equity of 1,901.11%. During the same period last year, the company earned ($6.60) EPS. On average, research analysts forecast that Cyclacel Pharmaceuticals will post -2.29 EPS for the current year.

Hedge Funds Weigh In On 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) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter. 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.