Ascendiant Capital Markets Begins Coverage on Cyclo Therapeutics (NASDAQ:CYTH)

Ascendiant Capital Markets assumed coverage on shares of Cyclo Therapeutics (NASDAQ:CYTH) in a report published on Monday, Benzinga reports. The firm issued a buy rating and a $2.60 price objective on the stock.

Cyclo Therapeutics Stock Performance

Shares of CYTH stock opened at $1.30 on Monday. Cyclo Therapeutics has a 52-week low of $0.68 and a 52-week high of $2.57. The firm has a market capitalization of $37.34 million, a PE ratio of -0.99 and a beta of -0.15. The stock has a fifty day simple moving average of $1.50 and a two-hundred day simple moving average of $1.46.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cyclo Therapeutics stock. Founders Fund V Management LLC acquired a new position in Cyclo Therapeutics, Inc. (NASDAQ:CYTH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 480,708 shares of the company’s stock, valued at approximately $764,000. Cyclo Therapeutics comprises about 80.8% of Founders Fund V Management LLC’s investment portfolio, making the stock its largest holding. Founders Fund V Management LLC owned approximately 2.11% of Cyclo Therapeutics as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 68.55% of the company’s stock.

Cyclo Therapeutics Company Profile

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.