Cyclacel Pharmaceuticals (NASDAQ:CYCC) Hits New 12-Month Low - Should You Sell?

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $2.69 and last traded at $2.75, with a volume of 325659 shares traded. The stock had previously closed at $3.59.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Cyclacel Pharmaceuticals in a report on Sunday. They issued a "sell" rating for the company.

Cyclacel Pharmaceuticals Stock Down 1.8%

The firm has a market cap of $25.46 million, a price-to-earnings ratio of -0.21 and a beta of 0.52. The business has a 50 day moving average of $4.06 and a 200 day moving average of $5.27.

Cyclacel Pharmaceuticals (NASDAQ:CYCC - Get Free Report) last announced 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). The company 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 Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, May 1st. Stockholders 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 dividend payout ratio is -0.27%.

Insider Buying and Selling

In other news, CEO David E. Lazar sold 12,164,301 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $0.48, for a total transaction of $5,838,864.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 68.00% of the company's stock.

Institutional Trading of Cyclacel Pharmaceuticals

A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC raised its holdings in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC - Free Report) by 118.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,269,485 shares of the biotechnology company's stock after purchasing an additional 689,024 shares during the quarter. Armistice Capital LLC owned approximately 0.61% of Cyclacel Pharmaceuticals worth $354,000 as of its most recent SEC filing. 23.58% of the stock is owned by institutional investors and hedge funds.

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.