Cyclacel Pharmaceuticals (NASDAQ:CYCC) Coverage Initiated at StockNews.com

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

A number of other brokerages have also commented on CYCC. Roth Mkm raised their price objective on shares of Cyclacel Pharmaceuticals from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Brookline Capital Management downgraded Cyclacel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th.

Cyclacel Pharmaceuticals Stock Up 16.8 %

CYCC stock opened at $1.95 on Tuesday. The business has a fifty day moving average of $2.36 and a 200-day moving average of $3.98. The company has a market cap of $2.57 million, a P/E ratio of -0.07 and a beta of 0.54. Cyclacel Pharmaceuticals has a twelve month low of $1.52 and a twelve month high of $13.20.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its quarterly earnings data on Tuesday, March 19th. The biotechnology company reported ($6.23) EPS for the quarter, topping analysts’ consensus estimates of ($6.35) by $0.12. The company had revenue of $0.03 million for the quarter. As a group, equities research analysts anticipate that Cyclacel Pharmaceuticals will post -18.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CYCC. Schonfeld Strategic Advisors LLC increased its holdings in Cyclacel Pharmaceuticals by 25.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 770,400 shares of the biotechnology company’s stock valued at $514,000 after buying an additional 155,200 shares during the period. Renaissance Technologies LLC increased its stake in Cyclacel Pharmaceuticals by 166.0% in the third quarter. Renaissance Technologies LLC now owns 167,600 shares of the biotechnology company’s stock valued at $245,000 after acquiring an additional 104,600 shares during the last quarter. Millennium Management LLC acquired a new position in Cyclacel Pharmaceuticals during the second quarter valued at approximately $113,000. Two Sigma Investments LP bought a new stake in Cyclacel Pharmaceuticals during the third quarter worth $98,000. Finally, HRT Financial LP acquired a new stake in shares of Cyclacel Pharmaceuticals in the 4th quarter valued at $27,000. 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. 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, 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 leukemias and solid tumors.