Cyclacel (NASDAQ:CYCC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
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. “
A number of other equities research analysts also recently weighed in on the company. ValuEngine raised Cyclacel from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd. HC Wainwright reaffirmed a “buy” rating on shares of Cyclacel in a report on Thursday, March 29th.
NASDAQ CYCC opened at $1.54 on Friday. The company has a market cap of $19.08, a price-to-earnings ratio of -0.44 and a beta of 3.63. Cyclacel has a 1-year low of $1.28 and a 1-year high of $7.27.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new stake in Cyclacel during the fourth quarter valued at approximately $108,000. Two Sigma Investments LP acquired a new position in shares of Cyclacel in the 4th quarter worth approximately $122,000. Finally, Virtu Financial LLC boosted its holdings in shares of Cyclacel by 69.5% in the 4th quarter. Virtu Financial LLC now owns 199,464 shares of the biotechnology company’s stock worth $347,000 after acquiring an additional 81,820 shares in the last quarter. 6.58% of the stock is currently owned by institutional investors.
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Cyclacel Pharmaceuticals, Inc, a biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases. The company's oncology development programs include sapacitabine, a novel orally-available nucleoside analog that is in Phase III clinical trial for the front-line treatment of acute myeloid leukemia; and Phase II clinical trial for the treatment of myelodysplastic syndromes.
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