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

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

Cyclacel Pharmaceuticals Trading Down 4.4 %

Shares of NASDAQ CYCC opened at $0.83 on Tuesday. Cyclacel Pharmaceuticals has a twelve month low of $0.75 and a twelve month high of $10.12. The firm has a 50-day moving average of $1.04 and a two-hundred day moving average of $1.56. The company has a market capitalization of $1.79 million, a price-to-earnings ratio of -0.05 and a beta of 0.51.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business earned ($6.60) earnings per share. As a group, research analysts predict that Cyclacel Pharmaceuticals will post -2.29 earnings per share 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 acquired a new position in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned 9.18% of Cyclacel Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds 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.