StockNews.com Begins Coverage on Cyclacel Pharmaceuticals (NASDAQ:CYCC)

StockNews.com assumed coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a report issued on Tuesday morning. The firm issued a sell rating on the biotechnology company’s stock.

Cyclacel Pharmaceuticals Stock Performance

NASDAQ CYCC opened at $0.87 on Tuesday. The company has a 50-day simple moving average of $1.05 and a 200-day simple moving average of $1.57. The firm has a market capitalization of $1.87 million, a PE ratio of -0.05 and a beta of 0.51. Cyclacel Pharmaceuticals has a one year low of $0.75 and a one year high of $10.12.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) EPS for the quarter, beating 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 previous year, the company posted ($6.60) EPS. Equities 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 purchased a new stake in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 and Exchange Commission (SEC). 23.58% of the stock is owned by institutional investors and hedge funds.

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.