Cyclacel Pharmaceuticals (NASDAQ:CYCC) Now Covered by StockNews.com

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

Cyclacel Pharmaceuticals Stock Down 0.9 %

Cyclacel Pharmaceuticals stock opened at $1.05 on Thursday. The firm has a 50-day moving average price of $1.41 and a two-hundred day moving average price of $1.86. The firm has a market capitalization of $2.07 million, a price-to-earnings ratio of -0.05 and a beta of 0.52. Cyclacel Pharmaceuticals has a 52-week low of $0.95 and a 52-week high of $11.34.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates 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) earnings per share. Research analysts expect that Cyclacel Pharmaceuticals will post -2.29 earnings per share for the current year.

Institutional Trading of 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) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC). 23.58% of the stock is currently owned by institutional investors.

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.