Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) Stock Short Interest Rises 160.1%

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA – Get Free Report) saw a large growth in short interest in September. As of September 30th, there was short interest totaling 11,552 shares, a growth of 160.1% from the September 15th total of 4,442 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily volume of 83,653 shares, the short-interest ratio is currently 0.1 days.

Cyclerion Therapeutics Stock Performance

KRSA traded up $2.66 during trading on Wednesday, reaching $34.32. 193,564 shares of the stock were exchanged, compared to its average volume of 288,718. The company has a market cap of $22.96 million, a price-to-earnings ratio of -2.95 and a beta of 1.72. Cyclerion Therapeutics has a 1 year low of $7.19 and a 1 year high of $59.36.

Institutional Investors Weigh In On Cyclerion Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. ADAR1 Capital Management LLC acquired a new stake in Cyclerion Therapeutics in the 2nd quarter valued at about $1,013,000. Braidwell LP acquired a new position in Cyclerion Therapeutics during the second quarter worth about $532,000. Finally, BlackRock Inc. acquired a new position in Cyclerion Therapeutics during the second quarter worth about $57,000. 75.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KRSA. Zacks Research upgraded shares of Cyclerion Therapeutics to a “hold” rating in a report on Wednesday, September 9th. Guggenheim began coverage on shares of Cyclerion Therapeutics in a research note on Monday, September 28th. They issued a “buy” rating and a $70.00 price objective for the company. Wall Street Zen raised shares of Cyclerion Therapeutics to a “sell” rating in a report on Saturday, October 3rd. Wedbush initiated coverage on shares of Cyclerion Therapeutics in a report on Monday, October 5th. They set an “outperform” rating and a $44.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cyclerion Therapeutics in a research report on Friday, July 24th. One investment 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 assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Read Our Latest Stock Report on Cyclerion Therapeutics

Cyclerion Therapeutics Company Profile

(Get Free Report)

Cyclerion Therapeutics, Inc was a clinical-stage biopharmaceutical company focused on developing medicines for serious diseases involving the central nervous system, cardiovascular system, kidneys and other organs. The company’s research centered on soluble guanylate cyclase stimulators, a class of compounds designed to influence cellular signaling pathways associated with blood flow, inflammation and tissue function.

Cyclerion’s development portfolio historically included IW-6463, an investigational central nervous system therapy, as well as olinciguat and praliciguat, which were studied for potential applications in conditions including neurodegenerative disease, sickle cell disease and diabetic kidney disease.

See Also

Receive News & Ratings for Cyclerion Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cyclerion Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.