Cyclacel Pharmaceuticals (NASDAQ:CYCC) Hits New 12-Month Low – Here’s Why

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) reached a new 52-week low during trading on Wednesday . The company traded as low as $2.69 and last traded at $2.75, with a volume of 325659 shares changing hands. The stock had previously closed at $3.59.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Cyclacel Pharmaceuticals in a research report on Saturday, May 10th. They set a “sell” rating for the company.

Cyclacel Pharmaceuticals Trading Down 5.2%

The firm’s 50-day moving average price is $4.12 and its 200-day moving average price is $5.40. The stock has a market capitalization of $456.14 million, a PE ratio of -0.23 and a beta of 0.52.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its earnings results on Wednesday, April 2nd. The biotechnology company reported ($5.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.64) by ($0.64). The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.01 million. Cyclacel Pharmaceuticals had a negative net margin of 18,150.00% and a negative return on equity of 1,901.11%.

Cyclacel Pharmaceuticals Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 29th were given a dividend of $2.40 per share. The ex-dividend date was Tuesday, April 29th. Cyclacel Pharmaceuticals’s dividend payout ratio is currently -4.29%.

Insider Activity

In related news, CEO David E. Lazar sold 12,164,301 shares of Cyclacel Pharmaceuticals stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $0.48, for a total transaction of $5,838,864.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 68.00% of the company’s stock.

Hedge Funds Weigh In On Cyclacel Pharmaceuticals

A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC increased its holdings in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) by 118.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,269,485 shares of the biotechnology company’s stock after acquiring an additional 689,024 shares during the period. Armistice Capital LLC owned about 0.61% of Cyclacel Pharmaceuticals worth $354,000 at the end of the most recent quarter. 23.58% of the stock is currently owned by institutional investors.

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.