Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) Sees Significant Drop in Short Interest

Cyclerion Therapeutics, Inc. (NASDAQ:CYCNGet Free Report) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 26,663 shares, a drop of 52.9% from the April 30th total of 56,618 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 79,808 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Ratings Changes

Separately, Weiss Ratings raised Cyclerion Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Cyclerion Therapeutics currently has an average rating of “Sell”.

Read Our Latest Stock Analysis on Cyclerion Therapeutics

Institutional Trading of Cyclerion Therapeutics

An institutional investor recently bought a new position in Cyclerion Therapeutics stock. Two Sigma Investments LP purchased a new stake in Cyclerion Therapeutics, Inc. (NASDAQ:CYCNFree Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,293 shares of the company’s stock, valued at approximately $31,000. Two Sigma Investments LP owned 0.40% of Cyclerion Therapeutics at the end of the most recent reporting period. Institutional investors own 75.62% of the company’s stock.

Cyclerion Therapeutics Stock Down 1.9%

Cyclerion Therapeutics stock traded down $0.06 during mid-day trading on Tuesday, hitting $3.02. 31,131 shares of the company’s stock were exchanged, compared to its average volume of 3,651,743. The company’s 50 day simple moving average is $3.06 and its 200-day simple moving average is $2.01. Cyclerion Therapeutics has a fifty-two week low of $1.03 and a fifty-two week high of $8.48. The firm has a market capitalization of $13.08 million, a P/E ratio of -2.22 and a beta of 1.80.

Cyclerion Therapeutics (NASDAQ:CYCNGet Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($17.20) by $16.44. Cyclerion Therapeutics had a negative return on equity of 62.10% and a negative net margin of 170.11%. Research analysts expect that Cyclerion Therapeutics will post -1.2 EPS for the current year.

Cyclerion Therapeutics Company Profile

(Get Free Report)

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.

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