Cyclo Therapeutics (NASDAQ:CYTH) Coverage Initiated at Ascendiant Capital Markets

Investment analysts at Ascendiant Capital Markets initiated coverage on shares of Cyclo Therapeutics (NASDAQ:CYTH) in a note issued to investors on Monday, Benzinga reports. The firm set a “buy” rating and a $2.60 price target on the stock. Ascendiant Capital Markets’ target price points to a potential upside of 114.88% from the stock’s current price.

Cyclo Therapeutics Trading Down 4.0 %

NASDAQ:CYTH opened at $1.21 on Monday. The firm has a 50-day moving average price of $1.50 and a two-hundred day moving average price of $1.46. Cyclo Therapeutics has a twelve month low of $0.68 and a twelve month high of $2.57. The company has a market capitalization of $34.75 million, a P/E ratio of -0.92 and a beta of -0.15.

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

Institutional Investors Weigh In On Cyclo Therapeutics

An institutional investor recently bought a new position in Cyclo Therapeutics stock. Founders Fund VI Management LLC bought a new position in Cyclo Therapeutics, Inc. (NASDAQ:CYTH) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 110,023 shares of the company’s stock, valued at approximately $175,000. Cyclo Therapeutics comprises approximately 1.4% of Founders Fund VI Management LLC’s portfolio, making the stock its 2nd largest position. Founders Fund VI Management LLC owned approximately 0.48% of Cyclo Therapeutics as of its most recent SEC filing. Institutional investors own 68.55% of the company’s stock.

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.