Cyclacel Pharmaceuticals (CYCC) Sees Unusually-High Trading Volume

Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) shares saw an uptick in trading volume on Tuesday . 2,549,469 shares changed hands during trading, an increase of 1,723% from the previous session’s volume of 139,874 shares.The stock last traded at $0.87 and had previously closed at $0.84.

Several brokerages have weighed in on CYCC. Zacks Investment Research raised Cyclacel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research report on Friday, November 16th. ValuEngine downgraded Cyclacel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, January 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $5.63.

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A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Renaissance Technologies LLC lifted its position in shares of Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) by 513.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,400 shares of the biotechnology company’s stock after acquiring an additional 76,500 shares during the quarter. Renaissance Technologies LLC owned 0.76% of Cyclacel Pharmaceuticals worth $130,000 as of its most recent SEC filing. Institutional investors own 5.69% of the company’s stock.

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About Cyclacel Pharmaceuticals (NASDAQ:CYCC)

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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