Cyclo Therapeutics (NASDAQ:CYTH) Earns Buy Rating from Analysts at Ascendiant Capital Markets

Stock analysts at Ascendiant Capital Markets initiated coverage on shares of Cyclo Therapeutics (NASDAQ:CYTH) in a research report issued on Monday, Benzinga reports. The firm set a “buy” rating and a $2.60 price target on the stock. Ascendiant Capital Markets’ price target would suggest a potential upside of 114.88% from the company’s previous close.

Cyclo Therapeutics Stock Performance

Shares of NASDAQ:CYTH opened at $1.21 on Monday. Cyclo Therapeutics has a twelve month low of $0.68 and a twelve month high of $2.57. The firm has a market cap of $34.75 million, a PE ratio of -0.92 and a beta of -0.15. The business has a fifty day moving average of $1.50 and a 200-day moving average of $1.46.

Cyclo Therapeutics (NASDAQ:CYTH) last announced its earnings results on Monday, March 18th. The company reported ($0.23) earnings per share for the quarter. Cyclo Therapeutics had a negative net margin of 1,864.03% and a negative return on equity of 4,506.97%. The business had revenue of $0.31 million during the quarter.

Institutional Trading of Cyclo Therapeutics

A hedge fund recently bought a new stake in Cyclo Therapeutics stock. Founders Fund V Management LLC acquired a new position in Cyclo Therapeutics, Inc. (NASDAQ:CYTH) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 480,708 shares of the company’s stock, valued at approximately $764,000. Cyclo Therapeutics accounts for approximately 80.8% of Founders Fund V Management LLC’s investment portfolio, making the stock its biggest position. Founders Fund V Management LLC owned approximately 2.11% of Cyclo Therapeutics as of its most recent SEC filing. 68.55% of the stock is owned by hedge funds and other institutional investors.

About Cyclo Therapeutics

Cyclo Therapeutics, Inc, a clinical stage biotechnology company, engages in the development of cyclodextrin-based products for the treatment of neurodegenerative diseases. The company's lead drug candidate is Trappsol Cyclo (hydroxypropyl beta cyclodextrin), an orphan drug, which is in Phase III clinical trials for the treatment of Niemann-Pick Type C disease; and in Phase IIb clinical trials for the treatment of Alzheimer's disease.