Cyclacel Pharmaceuticals (NASDAQ:CYCC) Stock Price Up 5.7%

Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC)’s stock price rose 5.7% on Wednesday . The company traded as high as $0.60 and last traded at $0.54, approximately 188,816 shares traded hands during mid-day trading. A decline of 53% from the average daily volume of 401,295 shares. The stock had previously closed at $0.51.

CYCC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Cyclacel Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $0.50 price target on the stock in a report on Monday, November 18th. ValuEngine upgraded shares of Cyclacel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday.

The business’s 50 day moving average is $0.42 and its 200 day moving average is $0.49. The company has a market capitalization of $9.46 million, a price-to-earnings ratio of -0.87 and a beta of 3.19. The company has a debt-to-equity ratio of 0.08, a quick ratio of 7.65 and a current ratio of 7.65.

A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Renaissance Technologies LLC lifted its stake in Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) by 82.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,102,400 shares of the biotechnology company’s stock after purchasing an additional 498,200 shares during the period. Renaissance Technologies LLC owned 6.41% of Cyclacel Pharmaceuticals worth $596,000 at the end of the most recent quarter. Institutional investors own 9.20% of the company’s stock.

About Cyclacel Pharmaceuticals (NASDAQ:CYCC)

Cyclacel Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases. The company's oncology development programs include CYC065, a cyclin dependent kinase Inhibitors (CDK) that is in Phase I clinical trial for the treatment of solid tumors, as well as in combination with venetoclax to treat relapsed or refractory chronic lymphocytic leukemia; and CYC140, a polo-like kinase inhibitor program, which is in Phase I clinical trial for the treatment of advanced leukemias.

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