StockNews.com Initiates 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 firm issued a sell rating on the biotechnology company’s stock.

Cyclacel Pharmaceuticals Stock Down 0.7 %

Shares of NASDAQ:CYCC opened at $0.91 on Friday. The firm has a market cap of $1.34 million, a P/E ratio of -0.04 and a beta of 0.51. The company’s 50-day moving average price is $1.20 and its two-hundred day moving average price is $1.67. Cyclacel Pharmaceuticals has a 12 month low of $0.90 and a 12 month high of $11.34.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its quarterly 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 prior year, the business earned ($6.60) earnings per share. As a group, equities analysts predict that Cyclacel Pharmaceuticals will post -2.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cyclacel Pharmaceuticals stock. Armistice Capital LLC bought a new position in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 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. 23.58% of the stock is owned by institutional investors.

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.