Cyclo Therapeutics (NASDAQ:CYTH) Price Target Lowered to $0.95 at Ascendiant Capital Markets

Cyclo Therapeutics (NASDAQ:CYTH) had its price objective lowered by Ascendiant Capital Markets from $2.60 to $0.95 in a report published on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, HC Wainwright reiterated a neutral rating and set a $0.95 price objective (down previously from $3.00) on shares of Cyclo Therapeutics in a research report on Friday, August 23rd.

Cyclo Therapeutics Stock Up 1.8 %

Shares of Cyclo Therapeutics stock opened at $0.81 on Monday. The company has a market capitalization of $23.17 million, a price-to-earnings ratio of -0.81 and a beta of -0.33. The stock’s 50-day simple moving average is $1.17 and its 200-day simple moving average is $1.34. Cyclo Therapeutics has a 52 week low of $0.77 and a 52 week high of $2.12.

Cyclo Therapeutics (NASDAQ:CYTH) last issued its earnings results on Thursday, August 15th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.07). Cyclo Therapeutics had a negative net margin of 1,720.76% and a negative return on equity of 2,741.89%. The business had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.40 million. On average, equities analysts expect that Cyclo Therapeutics will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Cyclo Therapeutics

An institutional investor recently bought a new position in Cyclo Therapeutics stock. Founders Fund V Management LLC purchased a new stake in Cyclo Therapeutics, Inc. (NASDAQ:CYTH) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 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 portfolio, making the stock its largest holding. Founders Fund V Management LLC owned 2.11% of Cyclo Therapeutics at the end of the most recent quarter. 68.55% of the stock is currently owned by 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.