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

Analysts at StockNews.com initiated coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a report issued on Sunday. The firm set a “sell” rating on the biotechnology company’s stock.

Cyclacel Pharmaceuticals Stock Performance

Shares of CYCC stock opened at $0.91 on Friday. The firm’s 50 day moving average price is $1.20 and its 200-day moving average price is $1.68. Cyclacel Pharmaceuticals has a one year low of $0.90 and a one year high of $11.34. The firm has a market cap of $1.34 million, a P/E ratio of -0.04 and a beta of 0.51.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its quarterly earnings data on Wednesday, August 14th. The biotechnology company reported ($0.72) 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 posted ($6.60) EPS. As a group, research analysts predict that Cyclacel Pharmaceuticals will post -2.29 EPS 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 bought 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. The institutional investor bought 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned approximately 9.18% of Cyclacel Pharmaceuticals as of its most recent SEC filing. 23.58% of the stock is owned by institutional investors and hedge funds.

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.