Cyclacel Pharmaceuticals (NASDAQ:CYCC) Stock Price Up 5.7%

Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) shares rose 5.7% during mid-day trading on Wednesday . The stock traded as high as $0.60 and last traded at $0.54, approximately 188,816 shares traded hands during mid-day trading. A decline of 53% from the average daily volume of 401,295 shares. The stock had previously closed at $0.51.

CYCC has been the topic of several recent research reports. ValuEngine raised Cyclacel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded Cyclacel Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $0.50 price objective for the company in a report on Monday, November 18th.

The company has a market cap of $9.46 million, a P/E ratio of -0.87 and a beta of 3.19. The company has a fifty day moving average price of $0.42 and a two-hundred day moving average price of $0.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 7.65 and a current ratio of 7.65.

An institutional investor recently raised its position in Cyclacel Pharmaceuticals stock. Renaissance Technologies LLC grew its stake in Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) by 82.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,102,400 shares of the biotechnology company’s stock after acquiring an additional 498,200 shares during the period. Renaissance Technologies LLC owned 6.41% of Cyclacel Pharmaceuticals worth $596,000 at the end of the most recent quarter. Institutional investors and hedge funds own 9.20% of the company’s stock.

Cyclacel Pharmaceuticals Company Profile (NASDAQ:CYCC)

Cyclacel Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases. The company's oncology development programs include CYC065, a cyclin dependent kinase Inhibitors (CDK) that is in Phase I clinical trial for the treatment of solid tumors, as well as in combination with venetoclax to treat relapsed or refractory chronic lymphocytic leukemia; and CYC140, a polo-like kinase inhibitor program, which is in Phase I clinical trial for the treatment of advanced leukemias.

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