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

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

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

Cyclacel Pharmaceuticals Stock Up 2.5 %

NASDAQ CYCC opened at $0.36 on Friday. Cyclacel Pharmaceuticals has a 52-week low of $0.32 and a 52-week high of $6.00. The business’s 50-day moving average price is $0.79 and its 200 day moving average price is $1.37. The firm has a market cap of $765,400.00, a P/E ratio of -0.04 and a beta of 0.56.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cyclacel Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 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 SEC. Hedge funds and other institutional investors own 23.58% of the company’s stock.

Cyclacel Pharmaceuticals Company Profile

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.