Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) Sees Significant Increase in Short Interest

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 23,804 shares, an increase of 106.1% from the September 30th total of 11,552 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 97,778 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Several analysts have commented on KRSA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cyclerion Therapeutics in a research report on Friday, July 24th. Stifel Nicolaus initiated coverage on Cyclerion Therapeutics in a research report on Monday, September 14th. They issued a “buy” rating and a $43.00 price target on the stock. Guggenheim initiated coverage on Cyclerion Therapeutics in a research note on Monday, September 28th. They set a “buy” rating and a $70.00 price objective for the company. Wedbush initiated coverage on Cyclerion Therapeutics in a report on Monday, October 5th. They issued an “outperform” rating and a $44.00 price objective for the company. Finally, Zacks Research raised Cyclerion Therapeutics to a “hold” rating in a research note on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Cyclerion Therapeutics Trading Down 0.3%

Cyclerion Therapeutics stock traded down $0.08 during mid-day trading on Friday, hitting $30.14. 104,184 shares of the company’s stock were exchanged, compared to its average volume of 147,471. The company has a market capitalization of $1.37 billion, a PE ratio of -2.59 and a beta of 1.72. Cyclerion Therapeutics has a fifty-two week low of $7.19 and a fifty-two week high of $59.36.

Institutional Investors Weigh In On Cyclerion Therapeutics

A number of hedge funds have recently modified their holdings of the business. Braidwell LP bought a new position in shares of Cyclerion Therapeutics during the 2nd quarter valued at about $532,000. ADAR1 Capital Management LLC acquired a new position in shares of Cyclerion Therapeutics in the 2nd quarter valued at approximately $1,013,000. Finally, BlackRock Inc. bought a new stake in Cyclerion Therapeutics during the 2nd quarter worth approximately $57,000. Institutional investors and hedge funds own 75.62% of the company’s stock.

About Cyclerion Therapeutics

Cyclerion Therapeutics, Inc was a clinical-stage biopharmaceutical company focused on developing medicines for serious central nervous system and cardiopulmonary diseases. The company’s research centered on soluble guanylate cyclase (sGC) stimulators, a class of compounds intended to regulate cellular signaling and potentially address diseases associated with impaired nitric oxide signaling.

Cyclerion was formed in 2019 as a spin-off from Ironwood Pharmaceuticals. Its historical development portfolio included olinciguat, an investigational treatment studied for sickle cell disease, and praliciguat, which was evaluated for conditions including diabetic nephropathy and nonalcoholic steatohepatitis.