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

StockNews.com assumed coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a research report report published on Friday morning. The firm issued a sell rating on the biotechnology company’s stock.

Cyclacel Pharmaceuticals Stock Performance

Shares of NASDAQ CYCC opened at $0.98 on Friday. The business’s 50-day simple moving average is $1.34 and its 200-day simple moving average is $1.78. 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 $1.93 million, a price-to-earnings ratio of -0.04 and a beta of 0.52.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned ($6.60) EPS. As a group, equities research analysts forecast that Cyclacel Pharmaceuticals will post -2.29 earnings per share 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 bought a new stake in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned 9.18% of Cyclacel Pharmaceuticals as of its most recent SEC filing. Hedge funds and other institutional investors own 23.58% of the company’s stock.

Cyclacel Pharmaceuticals Company Profile

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.