Cyclacel Pharmaceuticals (NASDAQ:CYCC) Downgraded by ValuEngine

Cyclacel Pharmaceuticals (NASDAQ:CYCC) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of Cyclacel Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $0.50 price objective for the company in a report on Monday.

NASDAQ CYCC traded down $0.04 during trading hours on Tuesday, reaching $0.45. 184,000 shares of the company were exchanged, compared to its average volume of 411,333. Cyclacel Pharmaceuticals has a 1 year low of $0.28 and a 1 year high of $1.18. The business’s 50 day simple moving average is $0.38 and its 200-day simple moving average is $0.51. The company has a quick ratio of 7.65, a current ratio of 7.65 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $6.71 million, a P/E ratio of -0.73 and a beta of 3.00.

An institutional investor recently raised its position in Cyclacel Pharmaceuticals stock. Renaissance Technologies LLC raised its holdings in Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) by 82.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,102,400 shares of the biotechnology company’s stock after purchasing an additional 498,200 shares during the period. Renaissance Technologies LLC owned 6.41% of Cyclacel Pharmaceuticals worth $596,000 at the end of the most recent reporting period. Institutional investors own 8.84% of the company’s stock.

Cyclacel Pharmaceuticals Company Profile

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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