Cyclacel Pharmaceuticals (NASDAQ:CYCC) Upgraded at Wall Street Zen

Cyclacel Pharmaceuticals (NASDAQ:CYCC) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Cyclacel Pharmaceuticals Trading Down 10.6%

CYCC stock opened at $7.95 on Friday. The firm has a market cap of $12.56 million, a P/E ratio of -0.01 and a beta of 0.08. Cyclacel Pharmaceuticals has a 12-month low of $3.08 and a 12-month high of $597.60. The stock’s 50 day simple moving average is $7.54 and its 200 day simple moving average is $42.57.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its quarterly earnings results on Wednesday, August 13th. The biotechnology company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($72.00) by $71.02.

Insiders Place Their Bets

In other Cyclacel Pharmaceuticals news, major shareholder David E. Lazar sold 6,750 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $12.36, for a total value of $83,430.00. Following the sale, the insider directly owned 155,838 shares of the company’s stock, valued at $1,926,157.68. This trade represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 51.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cyclacel Pharmaceuticals

A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC boosted its stake in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) by 118.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,269,485 shares of the biotechnology company’s stock after buying 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 SEC filing. Hedge funds and other institutional investors 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 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.