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

StockNews.com began coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a research note issued on Friday. The brokerage set a “sell” rating on the biotechnology company’s stock.

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

Cyclacel Pharmaceuticals Trading Down 4.9 %

CYCC opened at $0.37 on Friday. The company’s 50 day moving average is $0.85 and its 200 day moving average is $1.42. The company has a market cap of $804,474.00, a price-to-earnings ratio of -0.04 and a beta of 0.56. Cyclacel Pharmaceuticals has a 12-month low of $0.35 and a 12-month high of $6.00.

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

Hedge Funds Weigh In On Cyclacel Pharmaceuticals

A hedge fund recently bought a new stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC purchased a new position in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission. 23.58% of the stock is currently owned by hedge funds and other 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.