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

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

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

Cyclacel Pharmaceuticals Stock Performance

Shares of CYCC opened at $0.46 on Thursday. Cyclacel Pharmaceuticals has a 52-week low of $0.31 and a 52-week high of $4.00. The firm has a market cap of $2.89 million, a price-to-earnings ratio of -0.05 and a beta of 0.35. The business’s fifty day moving average is $0.41 and its 200-day moving average is $0.99.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.36. The firm had revenue of $0.01 million during 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, research analysts forecast that Cyclacel Pharmaceuticals will post -1.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Cyclacel Pharmaceuticals

An institutional investor recently bought a new position in Cyclacel Pharmaceuticals stock. Armistice Capital LLC acquired a new position in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned about 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.