Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) Short Interest Down 65.5% in August

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 18,067 shares, a decline of 65.5% from the August 15th total of 52,394 shares. Based on an average trading volume of 69,889 shares, the short-interest ratio is presently 0.3 days. Approximately 0.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Cyclerion Therapeutics in a research note on Friday, July 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Cyclerion Therapeutics Stock Up 3.9%

CYCN stock opened at $3.49 on Friday. Cyclerion Therapeutics has a twelve month low of $1.03 and a twelve month high of $8.48. The business’s 50-day moving average price is $25.14 and its 200-day moving average price is $21.35. The stock has a market cap of $16.33 million, a P/E ratio of -2.10 and a beta of 1.75.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Two Sigma Investments LP bought a new position in shares of Cyclerion Therapeutics during the third quarter valued at approximately $31,000. BlackRock Inc. bought a new stake in shares of Cyclerion Therapeutics during the 2nd quarter worth approximately $57,000. Braidwell LP bought a new stake in shares of Cyclerion Therapeutics during the 2nd quarter worth approximately $532,000. Finally, ADAR1 Capital Management LLC purchased a new position in Cyclerion Therapeutics during the 2nd quarter valued at $1,013,000. Hedge funds and other institutional investors own 75.62% of the company’s stock.

About Cyclerion Therapeutics

Cyclerion Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of inhibitors and stimulators of soluble guanylate cyclase (sGC), an intracellular enzyme that plays a critical role in the regulation of vascular tone, cellular proliferation and inflammation. By targeting the nitric oxide (NO)–sGC–cyclic guanosine monophosphate (cGMP) signaling pathway, Cyclerion aims to address a range of cardiometabolic, cardiovascular, pulmonary and neurological disorders with significant unmet medical need.

The company’s lead program, praliciguat, is an oral sGC stimulator investigated for indications such as diabetic nephropathy, metabolic syndrome and heart failure with preserved ejection fraction.