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

HC Wainwright began coverage on shares of Cyclo Therapeutics (NASDAQ:CYTH) in a research report report published on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $3.00 target price 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 assumed coverage on Cyclo Therapeutics in a research report on Monday, April 22nd. They issued a buy rating and a $2.60 price target for the company.

Cyclo Therapeutics Stock Up 2.7 %

NASDAQ:CYTH opened at $1.51 on Wednesday. The business’s 50-day moving average price is $1.46 and its 200 day moving average price is $1.47. The firm has a market cap of $43.37 million, a P/E 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 released its quarterly earnings results on Monday, March 18th. The company reported ($0.23) earnings per share for the quarter. Cyclo Therapeutics had a negative net margin of 1,864.03% and a negative return on equity of 4,506.97%. The company had revenue of $0.31 million during the quarter.

Hedge Funds Weigh In On Cyclo Therapeutics

A hedge fund recently bought a new stake in Cyclo Therapeutics stock. Founders Fund V Management LLC bought a new stake in shares of Cyclo Therapeutics, Inc. (NASDAQ:CYTH) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 480,708 shares of the company’s stock, valued at approximately $764,000. Cyclo Therapeutics makes up 80.8% of Founders Fund V Management LLC’s portfolio, making the stock its biggest position. Founders Fund V Management LLC owned approximately 2.11% of Cyclo Therapeutics at the end of the most recent quarter. 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.