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

StockNews.com began coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a research report released on Tuesday. The firm issued a hold rating on the biotechnology company’s stock.

Several other equities analysts also recently commented on CYCC. Brookline Capital Management downgraded Cyclacel Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, December 19th. Roth Mkm increased their target price on Cyclacel Pharmaceuticals from $16.00 to $21.00 and gave the company a buy rating in a research report on Tuesday, December 19th.

Cyclacel Pharmaceuticals Stock Down 3.2 %

Shares of CYCC stock opened at $1.79 on Tuesday. Cyclacel Pharmaceuticals has a twelve month low of $1.52 and a twelve month high of $13.20. The company has a market cap of $2.36 million, a P/E ratio of -0.07 and a beta of 0.54. The business has a fifty day simple moving average of $2.34 and a 200 day simple moving average of $3.94.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its earnings results on Tuesday, March 19th. The biotechnology company reported ($6.23) EPS for the quarter, beating the consensus estimate of ($6.35) by $0.12. The firm had revenue of $0.03 million during the quarter. As a group, equities research analysts anticipate that Cyclacel Pharmaceuticals will post -18.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cyclacel Pharmaceuticals

A number of hedge funds have recently made changes to their positions in CYCC. HRT Financial LP bought a new position in shares of Cyclacel Pharmaceuticals during the fourth quarter worth about $27,000. Virtu Financial LLC bought a new position in shares of Cyclacel Pharmaceuticals during the second quarter worth about $33,000. Renaissance Technologies LLC bought a new position in shares of Cyclacel Pharmaceuticals during the second quarter worth about $68,000. Two Sigma Investments LP bought a new position in shares of Cyclacel Pharmaceuticals during the third quarter worth about $98,000. Finally, Millennium Management LLC bought a new position in shares of Cyclacel Pharmaceuticals during the second quarter worth about $113,000. 23.58% of the stock is currently owned by institutional investors.

Cyclacel Pharmaceuticals Company Profile

Cyclacel Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases. 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, 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 leukemias and solid tumors.