Cyclacel Pharmaceuticals (NASDAQ:CYCC) Trading Down 7.8% – Here’s Why

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC)’s stock price dropped 7.8% during mid-day trading on Monday . The company traded as low as $3.62 and last traded at $3.74. Approximately 130,935 shares traded hands during trading, an increase of 30% from the average daily volume of 100,957 shares. The stock had previously closed at $4.05.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Cyclacel Pharmaceuticals in a research note on Saturday. They issued a “sell” rating on the stock.

Cyclacel Pharmaceuticals Stock Down 11.5%

The firm’s 50 day simple moving average is $4.32 and its 200 day simple moving average is $5.57. The company has a market cap of $744.34 million, a price-to-earnings ratio of -0.38 and a beta of 0.52.

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

Cyclacel Pharmaceuticals Announces Dividend

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

Insider Transactions at Cyclacel Pharmaceuticals

In other news, CEO David E. Lazar sold 12,164,301 shares of Cyclacel Pharmaceuticals stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $0.48, for a total value of $5,838,864.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 68.00% 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 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.