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

Cyclo Therapeutics, Inc. (NASDAQ:CYTH) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 110,700 shares, a decline of 15.9% from the November 15th total of 131,600 shares. Based on an average trading volume of 30,300 shares, the days-to-cover ratio is presently 3.7 days. Approximately 0.7% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. HC Wainwright restated a “neutral” rating and set a $0.95 target price (down previously from $3.00) on shares of Cyclo Therapeutics in a report on Friday, August 23rd. Ascendiant Capital Markets decreased their price objective on shares of Cyclo Therapeutics from $2.60 to $0.95 and set a “buy” rating on the stock in a report on Monday, August 26th. Finally, Maxim Group reaffirmed a “hold” rating on shares of Cyclo Therapeutics in a research note on Tuesday, August 27th.

Cyclo Therapeutics Price Performance

Shares of Cyclo Therapeutics stock remained flat at $0.58 on Monday. 37,719 shares of the stock traded hands, compared to its average volume of 65,579. Cyclo Therapeutics has a 12 month low of $0.57 and a 12 month high of $2.12. The company has a fifty day simple moving average of $0.71 and a 200-day simple moving average of $0.92. The company has a market capitalization of $16.68 million, a price-to-earnings ratio of -0.64 and a beta of -0.46.

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.