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

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

Cyclacel Pharmaceuticals Stock Up 3.0 %

CYCC opened at $1.03 on Friday. The firm has a market capitalization of $2.03 million, a P/E ratio of -0.05 and a beta of 0.52. The stock has a fifty day moving average of $1.27 and a 200-day moving average of $1.72. Cyclacel Pharmaceuticals has a 12-month low of $0.95 and a 12-month high of $11.34.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its quarterly earnings data on Wednesday, August 14th. The biotechnology company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm posted ($6.60) earnings per share. On average, analysts expect that Cyclacel Pharmaceuticals will post -2.29 earnings per share 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 acquired a new position in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned about 9.18% of Cyclacel Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). 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.