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

StockNews.com initiated coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a research note published on Friday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Separately, Roth Capital lowered Cyclacel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

Cyclacel Pharmaceuticals Stock Performance

NASDAQ CYCC traded down $0.02 during mid-day trading on Friday, reaching $0.37. 424,996 shares of the stock were exchanged, compared to its average volume of 4,380,705. The business’s 50 day moving average is $0.85 and its 200-day moving average is $1.42. Cyclacel Pharmaceuticals has a 1 year low of $0.35 and a 1 year high of $6.00.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.36. Cyclacel Pharmaceuticals had a negative net margin of 18,150.00% and a negative return on equity of 1,901.11%. The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.01 million. On average, research analysts predict that Cyclacel Pharmaceuticals will post -1.95 earnings per share for the current year.

Institutional Trading of Cyclacel Pharmaceuticals

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 second quarter, according to its most recent disclosure with the SEC. The firm 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 at the end of the most recent quarter. 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.