Cyclacel Pharmaceuticals Stock Scheduled to Reverse Split on Monday, May 12th (NASDAQ:CYCC)

Shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC - Free Report) are going to reverse split on Monday, May 12th. The 1-16 reverse split was announced on Wednesday, May 7th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, May 9th.

Cyclacel Pharmaceuticals Price Performance

NASDAQ:CYCC traded down $0.18 during trading hours on Tuesday, reaching $3.41. 47,238 shares of the company traded hands, compared to its average volume of 100,953. Cyclacel Pharmaceuticals has a 1-year low of $2.73 and a 1-year high of $49.34. The stock has a market cap of $707.02 million, a P/E ratio of -0.36 and a beta of 0.52. The firm's 50-day moving average is $4.28 and its 200-day moving average is $5.50.

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

Cyclacel Pharmaceuticals Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 29th were paid 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 currently -4.29%.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Cyclacel Pharmaceuticals in a research report on Saturday. They issued a "sell" rating on the stock.

Insider Activity at Cyclacel Pharmaceuticals

In other news, CEO David E. Lazar sold 12,164,301 shares of the stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 68.00% of the stock is currently owned by insiders.

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.