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Why Cyclacel Pharmaceuticals Inc (CYCC) is in the Spotlight

Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) shares have popped over 30% this afternoon due to momentum traders buying the stock for technical reasons. Shares of the company initially went into bull mode on Monday after the company the company published the following in a press release on the weekend.

Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) (NASDAQ:CYCCP) (“Cyclacel” or the “Company”), today announced the presentation by independent investigators of preclinical data demonstrating therapeutic potential of CYC065, the Company’s second-generation, cyclin-dependent kinase (CDK) 2/9 inhibitor, as a targeted anti-cancer agent. The data show that CYC065 substantially inhibited growth, triggered apoptosis, and induced anaphase catastrophe in murine and human lung cancer cells with known high metastatic potential. This was in marked contrast to effects in immortalized pulmonary epithelial murine and human cells. CYC065 markedly inhibited migration and invasion of lung cancer cells and affected distinctive pathways involved in DNA damage response, apoptosis, cell cycle regulation and cell migration.

Some market commentators aren’t buying the bullishness, however. Respected journalist Adam Feuerstein recently tweeted,

$CYCC is a zero. You’re trading worthless pieces of paper. And when the inevitable Rodman-led financing happens, you’ll be a bag holder.

 

What Does The Smart Money Sentiment Say?

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).

Kevin C. Tang‘s Tang Capital Management owned around 359,900 shares at the end of December.

The Bottom Line
Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) shares are higher today on no fundamental news. Rather instead, momentum traders are bidding shares up due to technical reasons. For further reading, check out the interesting article, ‘11 Most Technologically Advanced Countries In Europe‘.

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