Cyclacel Pharmaceuticals (NASDAQ:CYCC) Downgraded by Roth Capital

Roth Capital cut shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

Separately, StockNews.com assumed coverage on Cyclacel Pharmaceuticals in a report on Tuesday. They issued a “sell” rating for the company.

Cyclacel Pharmaceuticals Stock Down 4.4 %

Shares of NASDAQ CYCC opened at $0.83 on Wednesday. The firm has a 50-day simple moving average of $1.04 and a 200-day simple moving average of $1.56. The stock 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 52 week low of $0.75 and a 52 week high of $10.12.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last released its quarterly earnings data on Wednesday, August 14th. The biotechnology company reported ($0.72) EPS for the quarter, beating 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 period in the prior year, the business posted ($6.60) earnings per share. As a group, equities research analysts expect that Cyclacel Pharmaceuticals will post -2.29 EPS for the current year.

Institutional Investors Weigh In On Cyclacel Pharmaceuticals

An institutional investor recently bought a new position in Cyclacel Pharmaceuticals stock. Armistice Capital LLC purchased a new position in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the second quarter, according to its most recent 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 9.18% of Cyclacel Pharmaceuticals at the end of the most recent reporting period. 23.58% of the stock is owned by hedge funds and other 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.