HC Wainwright Begins Coverage on Cyclo Therapeutics (NASDAQ:CYTH)

HC Wainwright began coverage on shares of Cyclo Therapeutics (NASDAQ:CYTH) in a research note published on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $3.00 price target on the stock. HC Wainwright also issued estimates for Cyclo Therapeutics’ Q1 2024 earnings at ($0.20) EPS, Q2 2024 earnings at ($0.16) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.64) EPS, Q1 2025 earnings at ($0.14) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.13) EPS, FY2025 earnings at ($0.52) EPS, FY2026 earnings at ($0.47) EPS and FY2027 earnings at ($0.38) EPS.

Separately, Ascendiant Capital Markets began coverage on shares of Cyclo Therapeutics in a research note on Monday, April 22nd. They issued a buy rating and a $2.60 price target for the company.

Cyclo Therapeutics Stock Performance

Shares of NASDAQ CYTH opened at $1.51 on Wednesday. The stock has a 50 day moving average price of $1.45 and a 200 day moving average price of $1.47. The stock has a market capitalization of $43.37 million, a PE ratio of -1.15 and a beta of -0.18. Cyclo Therapeutics has a 52 week low of $0.89 and a 52 week high of $2.57.

Cyclo Therapeutics (NASDAQ:CYTH) last announced its quarterly earnings data 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 company had revenue of $0.31 million for the quarter. As a group, research analysts forecast that Cyclo Therapeutics will post -0.64 EPS for the current year.

Institutional Trading of Cyclo Therapeutics

A hedge fund recently bought a new stake in Cyclo Therapeutics stock. Founders Fund VI Management LLC purchased a new position in shares of Cyclo Therapeutics, Inc. (NASDAQ:CYTH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 110,023 shares of the company’s stock, valued at approximately $175,000. Cyclo Therapeutics makes up 1.4% of Founders Fund VI Management LLC’s portfolio, making the stock its 2nd largest position. Founders Fund VI Management LLC owned about 0.48% of Cyclo Therapeutics as of its most recent filing with the Securities and Exchange Commission. 68.55% of the stock is currently 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.