Cyclacel Pharmaceuticals (NASDAQ:CYCC) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a research note issued to investors on Thursday. The brokerage issued a sell rating on the biotechnology company’s stock.

Cyclacel Pharmaceuticals Stock Down 4.7 %

NASDAQ:CYCC opened at $1.01 on Thursday. The business’s 50-day moving average price is $1.39 and its 200 day moving average price is $1.83. Cyclacel Pharmaceuticals has a 52-week low of $0.95 and a 52-week high of $11.34. The firm has a market cap of $1.99 million, a P/E ratio of -0.05 and a beta of 0.52.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.11. Cyclacel Pharmaceuticals had a negative return on equity of 1,901.11% and a negative net margin of 21,963.75%. During the same period in the previous year, the business posted ($6.60) EPS. Sell-side analysts expect that Cyclacel Pharmaceuticals will post -2.29 EPS for the current year.

Institutional Investors Weigh In On Cyclacel Pharmaceuticals

A hedge fund recently bought a new stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC acquired a new position in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 quarter. Institutional investors and hedge funds 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.