Cyclacel Pharmaceuticals (NASDAQ:CYCC) Research Coverage Started at StockNews.com

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

Cyclacel Pharmaceuticals Price Performance

CYCC opened at $1.01 on Thursday. Cyclacel Pharmaceuticals has a 1 year low of $0.95 and a 1 year high of $11.34. The business’s 50-day moving average price is $1.39 and its two-hundred day moving average price is $1.83. The company has a market capitalization of $1.99 million, a price-to-earnings ratio of -0.05 and a beta of 0.52.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) EPS for the quarter, topping the consensus estimate 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 posted ($6.60) earnings per share. Sell-side analysts anticipate that Cyclacel Pharmaceuticals will post -2.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 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 quarter. 23.58% of the stock is owned by institutional investors and hedge funds.

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.