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

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

Cyclacel Pharmaceuticals Stock Down 5.3 %

Shares of NASDAQ:CYCC opened at $0.89 on Friday. The stock has a market cap of $1.30 million, a price-to-earnings ratio of -0.04 and a beta of 0.51. Cyclacel Pharmaceuticals has a 12-month low of $0.88 and a 12-month high of $11.34. The business’s 50 day moving average is $1.17 and its 200 day moving average is $1.65.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) earnings per share (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 quarter in the previous year, the business earned ($6.60) EPS. As a group, equities research analysts expect 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) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 reporting period. Hedge funds and other institutional investors 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.