Cyclacel Pharmaceuticals (NASDAQ:CYCC) Announces Earnings Results

Cyclacel Pharmaceuticals (NASDAQ:CYCC) issued its earnings results on Tuesday. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.01), Morningstar.com reports.

Shares of NASDAQ CYCC traded up $0.08 during midday trading on Wednesday, hitting $0.52. 1,603 shares of the company’s stock traded hands, compared to its average volume of 563,123. Cyclacel Pharmaceuticals has a 1 year low of $0.28 and a 1 year high of $1.87. The stock has a market capitalization of $9.29 million, a PE ratio of -0.82 and a beta of 2.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.09 and a quick ratio of 8.09. The company has a fifty day moving average price of $0.56.

A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Renaissance Technologies LLC lifted its stake in shares of Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) by 82.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,102,400 shares of the biotechnology company’s stock after acquiring an additional 498,200 shares during the quarter. Renaissance Technologies LLC owned approximately 6.41% of Cyclacel Pharmaceuticals worth $596,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.36% of the company’s stock.

CYCC has been the subject of a number of recent analyst reports. Roth Capital reissued a “buy” rating on shares of Cyclacel Pharmaceuticals in a research report on Thursday, May 23rd. Zacks Investment Research lowered shares of Cyclacel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Cyclacel Pharmaceuticals in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $5.00.

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 oncology development programs include CYC065, a cyclin dependent kinase Inhibitors (CDK) that is in Phase I clinical trial for the treatment of solid tumors, as well as in combination with venetoclax to treat relapsed or refractory chronic lymphocytic leukemia; and CYC140, a polo-like kinase inhibitor program, which is in Phase I clinical trial for the treatment of advanced leukemias.

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Earnings History for Cyclacel Pharmaceuticals (NASDAQ:CYCC)

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