Cyclo Therapeutics, Inc. (NASDAQ:CYTH) Sees Significant Increase in Short Interest

Cyclo Therapeutics, Inc. (NASDAQ:CYTH) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 75,300 shares, an increase of 65.1% from the March 31st total of 45,600 shares. Based on an average daily trading volume, of 106,700 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.5% of the shares of the company are short sold.

Cyclo Therapeutics Trading Up 0.8 %

CYTH opened at $1.30 on Friday. The firm has a market capitalization of $37.33 million, a PE ratio of -0.99 and a beta of -0.15. Cyclo Therapeutics has a twelve month low of $0.84 and a twelve month high of $2.57. The firm’s 50-day moving average price is $1.48 and its 200 day moving average price is $1.46.

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

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets assumed coverage on shares of Cyclo Therapeutics in a research report on Monday, April 22nd. They set a “buy” rating and a $2.60 price target on the stock.

Hedge Funds 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 shares of Cyclo Therapeutics, Inc. (NASDAQ:CYTH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 110,023 shares of the company’s stock, valued at approximately $175,000. Cyclo Therapeutics accounts for about 1.4% of Founders Fund VI Management LLC’s investment portfolio, making the stock its 2nd largest holding. Founders Fund VI Management LLC owned approximately 0.48% of Cyclo Therapeutics at the end of the most recent quarter. 68.55% of the stock is owned by institutional investors.

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.