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

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

Cyclacel Pharmaceuticals Price Performance

CYCC opened at $1.03 on Friday. The stock has a market cap of $2.03 million, a P/E ratio of -0.05 and a beta of 0.52. The stock’s 50 day simple moving average is $1.27 and its 200 day simple moving average is $1.73. Cyclacel Pharmaceuticals has a 1-year low of $0.95 and a 1-year high of $11.34.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) EPS for the quarter, beating 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 quarter in the previous year, the firm posted ($6.60) EPS. Research analysts expect that Cyclacel Pharmaceuticals will post -2.29 EPS for the current fiscal year.

Institutional Trading of Cyclacel Pharmaceuticals

An institutional investor recently bought a new position in Cyclacel Pharmaceuticals stock. Armistice Capital LLC purchased a new position in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 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 & Exchange Commission. 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.