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

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

Cyclacel Pharmaceuticals Stock Performance

Cyclacel Pharmaceuticals stock opened at $1.03 on Friday. The business’s 50-day simple moving average is $1.27 and its 200-day simple moving average is $1.72. Cyclacel Pharmaceuticals has a 52 week low of $0.95 and a 52 week high of $11.34. The firm has a market capitalization of $2.03 million, a PE ratio of -0.05 and a beta of 0.52.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) EPS for the quarter, topping 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 period in the prior year, the company posted ($6.60) EPS. Research analysts forecast that Cyclacel Pharmaceuticals will post -2.29 earnings per share for the current year.

Institutional Inflows and Outflows

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) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned approximately 9.18% of Cyclacel Pharmaceuticals at the end of the most recent quarter. 23.58% of the stock is currently owned by hedge funds and other institutional investors.

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.