Cyclacel Pharmaceuticals (NASDAQ:CYCC) Reaches New 1-Year Low – Here’s Why

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $2.69 and last traded at $2.75, with a volume of 325659 shares. The stock had previously closed at $3.59.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Cyclacel Pharmaceuticals in a research note on Saturday. They set a “sell” rating for the company.

Cyclacel Pharmaceuticals Price Performance

The firm has a 50 day simple moving average of $4.23 and a 200-day simple moving average of $5.48. The stock has a market capitalization of $570.17 million, a price-to-earnings ratio of -0.29 and a beta of 0.52.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last released its quarterly earnings data on Wednesday, April 2nd. The biotechnology company reported ($5.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.64) by ($0.64). Cyclacel Pharmaceuticals had a negative return on equity of 1,901.11% and a negative net margin of 18,150.00%. The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.01 million.

Cyclacel Pharmaceuticals Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 29th were paid a dividend of $2.40 per share. The ex-dividend date of this dividend was Tuesday, April 29th. Cyclacel Pharmaceuticals’s dividend payout ratio is currently -4.29%.

Insider Transactions at Cyclacel Pharmaceuticals

In other news, CEO David E. Lazar sold 12,164,301 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $0.48, for a total transaction of $5,838,864.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 68.00% of the company’s stock.

Cyclacel Pharmaceuticals Company Profile

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.