StockNews.com Initiates Coverage on Cyclacel Pharmaceuticals (NASDAQ:CYCC)

StockNews.com started coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCCGet Rating) in a report published on Wednesday. The firm issued a sell rating on the biotechnology company’s stock.

Separately, Zacks Investment Research downgraded Cyclacel Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, April 21st.

Shares of NASDAQ CYCC opened at $1.94 on Wednesday. Cyclacel Pharmaceuticals has a 12 month low of $1.87 and a 12 month high of $7.95. The stock has a market capitalization of $19.39 million, a price-to-earnings ratio of -0.91 and a beta of 1.21. The firm’s 50 day simple moving average is $2.91 and its 200-day simple moving average is $3.66.

Cyclacel Pharmaceuticals (NASDAQ:CYCCGet Rating) last announced its quarterly earnings data on Monday, March 28th. The biotechnology company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.17. During the same period in the previous year, the business posted ($1.34) earnings per share. On average, equities analysts forecast that Cyclacel Pharmaceuticals will post -2.5 EPS for the current year.

A number of hedge funds have recently made changes to their positions in CYCC. NEXT Financial Group Inc grew its holdings in Cyclacel Pharmaceuticals by 61.7% in the fourth quarter. NEXT Financial Group Inc now owns 23,852 shares of the biotechnology company’s stock valued at $93,000 after purchasing an additional 9,100 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in Cyclacel Pharmaceuticals by 210.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 322,373 shares of the biotechnology company’s stock worth $1,254,000 after buying an additional 218,448 shares during the period. Millennium Management LLC purchased a new position in Cyclacel Pharmaceuticals during the fourth quarter worth about $39,000. Acadian Asset Management LLC purchased a new position in Cyclacel Pharmaceuticals during the fourth quarter worth about $89,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Cyclacel Pharmaceuticals by 219.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 44,631 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 30,668 shares during the period. 37.00% of the stock is currently owned by hedge funds and other institutional investors.

About Cyclacel Pharmaceuticals (Get Rating)

Cyclacel Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases. The company's development programs include fadraciclib, a cyclin dependent kinase Inhibitors (CDK) that is in Phase 1/2 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 1/2 clinical trial for the treatment of advanced leukemias and solid tumors.

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