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

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

Separately, Roth Capital lowered shares of Cyclacel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Cyclacel Pharmaceuticals Stock Down 1.4 %

Cyclacel Pharmaceuticals stock opened at $0.37 on Thursday. The firm has a market capitalization of $2.33 million, a price-to-earnings ratio of -0.04 and a beta of 0.38. The company has a fifty day simple moving average of $0.42 and a 200-day simple moving average of $1.00. Cyclacel Pharmaceuticals has a 52-week low of $0.31 and a 52-week high of $4.00.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.36. Cyclacel Pharmaceuticals had a negative net margin of 18,150.00% and a negative return on equity of 1,901.11%. The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.01 million. On average, research analysts anticipate that Cyclacel Pharmaceuticals will post -1.95 EPS for the current fiscal year.

Institutional Trading of Cyclacel Pharmaceuticals

A hedge fund recently bought a new stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC bought a new stake 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 institutional investor bought 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 filing with the Securities & Exchange Commission. Institutional investors own 23.58% of the company’s stock.

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.