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

Equities researchers at StockNews.com began coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a note issued to investors on Saturday. The firm set a “sell” rating on the biotechnology company’s stock.

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

Cyclacel Pharmaceuticals Stock Up 2.5 %

NASDAQ:CYCC opened at $0.36 on Friday. The firm has a market capitalization of $2.24 million, a price-to-earnings ratio of -0.04 and a beta of 0.56. Cyclacel Pharmaceuticals has a twelve month low of $0.32 and a twelve month high of $6.00. The stock’s 50 day moving average price is $0.78 and its two-hundred day moving average price is $1.35.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted 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 firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.01 million. Cyclacel Pharmaceuticals had a negative return on equity of 1,901.11% and a negative net margin of 18,150.00%. As a group, analysts anticipate that Cyclacel Pharmaceuticals will post -1.95 earnings per share for the current year.

Institutional Inflows and Outflows

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 Form 13F filing with the SEC. 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. 23.58% of the stock is currently 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.