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

Investment analysts at StockNews.com began coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Cyclacel Pharmaceuticals Trading Up 0.6 %

Shares of NASDAQ CYCC opened at $0.80 on Monday. The firm has a market capitalization of $1.72 million, a price-to-earnings ratio of -0.05 and a beta of 0.51. Cyclacel Pharmaceuticals has a one year low of $0.75 and a one year high of $11.34. The business has a fifty day simple moving average of $1.11 and a 200 day simple moving average of $1.63.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last released its quarterly earnings data on Wednesday, August 14th. The biotechnology company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business posted ($6.60) earnings per share. On average, research analysts anticipate that Cyclacel Pharmaceuticals will post -2.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cyclacel Pharmaceuticals

A hedge fund recently bought a new stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned approximately 9.18% of Cyclacel Pharmaceuticals at the end of the most recent reporting period. 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.