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

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

Cyclacel Pharmaceuticals Stock Performance

NASDAQ:CYCC opened at $1.06 on Tuesday. The stock’s fifty day moving average is $1.06 and its 200 day moving average is $1.57. The firm has a market capitalization of $1.55 million, a PE ratio of -0.05 and a beta of 0.51. Cyclacel Pharmaceuticals has a fifty-two week low of $0.75 and a fifty-two week high of $10.12.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last released its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm posted ($6.60) earnings per share. Equities analysts forecast that Cyclacel Pharmaceuticals will post -2.29 EPS for the current year.

Institutional Investors Weigh In On Cyclacel Pharmaceuticals

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