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

Shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC - Free Report) are scheduled to reverse split on the morning of 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 closing bell on Friday, May 9th.

Cyclacel Pharmaceuticals Trading Down 15.3 %

Shares of CYCC traded down $0.05 during mid-day trading on Friday, hitting $0.25. 1,256,555 shares of the company's stock were exchanged, compared to its average volume of 1,606,959. The firm has a market capitalization of $52.68 million, a P/E ratio of -0.03 and a beta of 0.52. Cyclacel Pharmaceuticals has a fifty-two week low of $0.17 and a fifty-two week high of $3.08. The business's 50 day moving average is $0.27 and its two-hundred day moving average is $0.36.

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

Cyclacel Pharmaceuticals Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 29th were given 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%.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Cyclacel Pharmaceuticals in a report on Saturday. They set a "sell" rating for the company.

Insider Activity

In other Cyclacel Pharmaceuticals news, CEO David E. Lazar sold 12,164,301 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. 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.