Cyclacel Pharmaceuticals (NASDAQ:CYCC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “CYCLACEL is a biopharmaceutical company dedicated to the discovery, development and commercialization of novel, mechanism-targeted drugs to treat human cancers and other serious disorders. Three orally-available Cyclacel drugs are in clinical development. Sapacitabine, a cell cycle modulating nucleoside analog, is in Phase 2 studies for the treatment of acute myeloid leukemia in the elderly, myelodysplastic syndromes and cutaneous T-cell lymphoma. Seliciclib (CYC202 or R-roscovitine), a CDK inhibitor, is in Phase 2 for the treatment of lung cancer and nasopharyngeal cancer. “

Separately, ValuEngine raised shares of Cyclacel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd.

CYCC stock traded down $0.06 during trading on Tuesday, hitting $0.74. 303,852 shares of the stock traded hands, compared to its average volume of 509,933. Cyclacel Pharmaceuticals has a one year low of $0.28 and a one year high of $1.18. The stock has a market cap of $12.73 million, a price-to-earnings ratio of -1.19 and a beta of 3.13. The company has a 50 day simple moving average of $0.62 and a 200 day simple moving average of $0.50. The company has a current ratio of 7.65, a quick ratio of 7.65 and a debt-to-equity ratio of 0.08.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its quarterly earnings results on Wednesday, November 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.06. As a group, analysts predict that Cyclacel Pharmaceuticals will post -0.51 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Renaissance Technologies LLC boosted its position in shares of Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) by 82.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 about 6.41% of Cyclacel Pharmaceuticals worth $596,000 at the end of the most recent quarter. 8.83% of the stock is currently owned by hedge funds and other institutional investors.

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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