Wall Street Zen Downgrades Cyclacel Pharmaceuticals (NASDAQ:CYCC) to Sell

Cyclacel Pharmaceuticals (NASDAQ:CYCC) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Cyclacel Pharmaceuticals Price Performance

Cyclacel Pharmaceuticals stock opened at $13.07 on Friday. Cyclacel Pharmaceuticals has a one year low of $3.08 and a one year high of $597.60. The company’s fifty day moving average price is $13.63 and its two-hundred day moving average price is $53.55. The company has a market capitalization of $20.65 million, a price-to-earnings ratio of -0.02 and a beta of 0.03.

Institutional Investors Weigh In On Cyclacel Pharmaceuticals

A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC grew its position in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) by 118.7% in the first quarter, according to its most recent filing with the SEC. The fund 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 0.61% of Cyclacel Pharmaceuticals worth $354,000 as of its most recent filing with the SEC. 23.58% of the stock is currently owned by institutional investors.

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.