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

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

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

Cyclacel Pharmaceuticals Trading Up 2.1 %

Shares of CYCC opened at $0.32 on Wednesday. Cyclacel Pharmaceuticals has a 12-month low of $0.31 and a 12-month high of $4.00. The stock has a market cap of $2.04 million, a P/E ratio of -0.03 and a beta of 0.38. The company has a 50-day moving average of $0.50 and a two-hundred day moving average of $1.05.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.36. The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.01 million. Cyclacel Pharmaceuticals had a negative return on equity of 1,901.11% and a negative net margin of 18,150.00%. As a group, analysts forecast that Cyclacel Pharmaceuticals will post -1.95 EPS for the current fiscal year.

Hedge Funds Weigh In On 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) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned about 9.18% of Cyclacel Pharmaceuticals at the end of the most recent quarter. 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.