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

StockNews.com initiated coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a research note released on Tuesday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

Cyclacel Pharmaceuticals Trading Down 2.2 %

NASDAQ CYCC opened at $0.22 on Tuesday. Cyclacel Pharmaceuticals has a 1-year low of $0.17 and a 1-year high of $4.00. The stock’s 50 day moving average is $0.30 and its two-hundred day moving average is $0.46. The company has a market capitalization of $1.40 million, a price-to-earnings ratio of -0.02 and a beta of 0.15.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its quarterly earnings results on Wednesday, April 2nd. The biotechnology company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.04). Cyclacel Pharmaceuticals had a negative net margin of 18,150.00% and a negative return on equity of 1,901.11%. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.01 million.

Insider Buying and Selling

In other Cyclacel Pharmaceuticals news, CEO David E. Lazar sold 194,628,820 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $0.03, for a total transaction of $5,838,864.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 23.97% of the stock is currently owned by corporate insiders.

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.