Cyclacel Pharmaceuticals (NASDAQ:CYCC) Earns Sell Rating from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a note issued to investors on Sunday. The firm set a “sell” rating on the biotechnology company’s stock.

Cyclacel Pharmaceuticals Stock Performance

CYCC stock opened at $2.00 on Friday. The stock’s 50 day simple moving average is $4.01 and its 200 day simple moving average is $5.21. Cyclacel Pharmaceuticals has a fifty-two week low of $1.90 and a fifty-two week high of $49.34. The company has a market cap of $25.92 million, a P/E ratio of -0.21 and a beta of 0.52.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its quarterly earnings data on Wednesday, April 2nd. The biotechnology company reported ($5.28) EPS for the quarter, missing the consensus estimate of ($4.64) by ($0.64). The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations 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%.

Insider Transactions at Cyclacel Pharmaceuticals

In other news, CEO David E. Lazar sold 12,164,301 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $0.48, for a total value of $5,838,864.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 68.00% of the company’s stock.

Hedge Funds Weigh In On Cyclacel Pharmaceuticals

A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC increased its holdings in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) by 118.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,269,485 shares of the biotechnology company’s stock after acquiring an additional 689,024 shares during the period. Armistice Capital LLC owned about 0.61% of Cyclacel Pharmaceuticals worth $354,000 at the end of the most recent quarter. Institutional investors and hedge funds own 23.58% of the company’s stock.

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.