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

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

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

Cyclacel Pharmaceuticals Stock Up 1.0 %

Shares of NASDAQ CYCC opened at $0.36 on Friday. The firm has a market cap of $2.24 million, a price-to-earnings ratio of -0.04 and a beta of 0.35. The company’s 50-day simple moving average is $0.38 and its 200-day simple moving average is $0.89. Cyclacel Pharmaceuticals has a 52-week low of $0.31 and a 52-week high of $4.00.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.36. The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.01 million. Cyclacel Pharmaceuticals had a negative return on equity of 1,901.11% and a negative net margin of 18,150.00%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC purchased a new position in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) in the 2nd quarter, according to its most recent 13F filing with the Securities & 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 as of its most recent SEC filing. 23.58% of the stock is owned by hedge funds and other 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.