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

Analysts at StockNews.com started coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC – Get Rating) in a research report issued on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Separately, Oppenheimer cut their target price on Cyclacel Pharmaceuticals from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Tuesday, March 7th.

Cyclacel Pharmaceuticals Price Performance

Shares of NASDAQ CYCC opened at $0.54 on Tuesday. The stock’s fifty day moving average price is $0.60 and its two-hundred day moving average price is $0.80. The firm has a market cap of $6.79 million, a price-to-earnings ratio of -0.28 and a beta of 1.11. Cyclacel Pharmaceuticals has a one year low of $0.50 and a one year high of $2.41.

Cyclacel Pharmaceuticals (NASDAQ:CYCC – Get Rating) last released its earnings results on Monday, March 6th. The biotechnology company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.12). On average, equities analysts anticipate that Cyclacel Pharmaceuticals will post -1.76 earnings per share for the current fiscal year.

Institutional Trading of Cyclacel Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC lifted its position in shares of Cyclacel Pharmaceuticals by 6.5% during the 4th quarter. Millennium Management LLC now owns 208,062 shares of the biotechnology company’s stock worth $139,000 after buying an additional 12,617 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Cyclacel Pharmaceuticals during the 3rd quarter worth $34,000. Virtu Financial LLC bought a new stake in shares of Cyclacel Pharmaceuticals during the 2nd quarter worth $33,000. HRT Financial LP bought a new stake in shares of Cyclacel Pharmaceuticals during the 4th quarter worth $27,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Cyclacel Pharmaceuticals during the 2nd quarter worth $68,000. 23.77% of the stock is currently owned by institutional investors.

About Cyclacel Pharmaceuticals

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Cyclacel Pharmaceuticals, Inc is a clinical stage biopharmaceutical company. It uses cell cycle, transcriptional regulation and DNA damage response biology to develop medicines for cancer and other proliferative diseases. The company builds a biopharmaceutical business, which is focused in hematology and oncology based on a pipeline of novel drug candidates.