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

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

Cyclacel Pharmaceuticals Stock Up 2.7 %

Shares of CYCC opened at $0.25 on Friday. The stock’s fifty day simple moving average is $0.27 and its 200-day simple moving average is $0.39. The firm has a market capitalization of $52.08 million, a PE ratio of -0.03 and a beta of 0.15. Cyclacel Pharmaceuticals has a 12-month low of $0.17 and a 12-month high of $3.08.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its earnings results on Wednesday, April 2nd. The biotechnology company reported ($0.33) earnings per share (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 business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.01 million.

Cyclacel Pharmaceuticals Announces Dividend

The business also recently disclosed a dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 29th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, April 29th. Cyclacel Pharmaceuticals’s dividend payout ratio (DPR) is presently -4.29%.

Insider Buying and Selling at Cyclacel Pharmaceuticals

In related news, CEO David E. Lazar sold 194,628,820 shares of the business’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 68.00% 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.