Cyclo Therapeutics (NASDAQ:CYTH) Now Covered by Ascendiant Capital Markets

Ascendiant Capital Markets began coverage on shares of Cyclo Therapeutics (NASDAQ:CYTH) in a research note released on Monday morning, Benzinga reports. The firm issued a buy rating and a $2.60 target price on the stock.

Cyclo Therapeutics Trading Up 7.4 %

CYTH stock opened at $1.30 on Monday. The company’s 50 day moving average is $1.50 and its 200 day moving average is $1.46. The stock has a market cap of $37.34 million, a price-to-earnings ratio of -0.99 and a beta of -0.15. Cyclo Therapeutics has a 1-year low of $0.68 and a 1-year high of $2.57.

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

Hedge Funds Weigh In On Cyclo Therapeutics

An institutional investor recently bought a new position in Cyclo Therapeutics stock. Founders Fund VI Management LLC acquired a new stake in shares of Cyclo Therapeutics, Inc. (NASDAQ:CYTH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 110,023 shares of the company’s stock, valued at approximately $175,000. Cyclo Therapeutics comprises about 1.4% of Founders Fund VI Management LLC’s holdings, making the stock its 2nd largest holding. Founders Fund VI Management LLC owned approximately 0.48% of Cyclo Therapeutics at the end of the most recent reporting period. 68.55% of the stock is owned by institutional investors and hedge funds.

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.