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

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) was the recipient of a large growth in short interest during the month of October. As of October 30th, there was short interest totaling 167,367 shares, a growth of 603.1% from the October 15th total of 23,804 shares. Based on an average daily trading volume, of 178,210 shares, the short-interest ratio is currently 0.9 days. Approximately 0.5% of the company’s shares are sold short.

Cyclerion Therapeutics Stock Down 0.2%

Shares of Cyclerion Therapeutics stock opened at $31.11 on Wednesday. The stock’s fifty day simple moving average is $32.11. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -2.45 and a beta of 1.85. Cyclerion Therapeutics has a 12 month low of $7.19 and a 12 month high of $59.36.

Cyclerion Therapeutics (NASDAQ:KRSA) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($3.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($50.40) by $47.21. On average, research analysts anticipate that Cyclerion Therapeutics will post -5.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Cyclerion Therapeutics

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

Analyst Ratings Changes

Several brokerages recently commented on KRSA. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cyclerion Therapeutics in a report on Friday, July 24th. Wedbush began coverage on shares of Cyclerion Therapeutics in a report on Monday, October 5th. They set an “outperform” rating and a $44.00 price target for the company. Guggenheim assumed coverage on shares of Cyclerion Therapeutics in a research report on Monday, September 28th. They issued a “buy” rating and a $70.00 price target on the stock. Zacks Research upgraded Cyclerion Therapeutics to a “hold” rating in a report on Wednesday, September 9th. Finally, UBS Group started coverage on shares of Cyclerion Therapeutics in a research note on Friday, September 11th. They issued a “buy” rating and a $55.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.00.

Cyclerion Therapeutics Company Profile

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.