Cyclerion Therapeutics, Inc. (NASDAQ:CYCN – Get Free Report) saw a large decline in short interest in 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. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 69,889 shares, the days-to-cover ratio is presently 0.3 days.
Cyclerion Therapeutics Stock Performance
The company has a market cap of $16.33 million, a price-to-earnings ratio of -2.10 and a beta of 1.75. Cyclerion Therapeutics has a 12 month low of $1.03 and a 12 month high of $8.48. The company has a 50 day moving average price of $25.14 and a two-hundred day moving average price of $21.35.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cyclerion Therapeutics in a report on Friday, July 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.
Hedge Funds Weigh In On Cyclerion Therapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Investments LP bought a new stake in Cyclerion Therapeutics in the third quarter worth $31,000. BlackRock Inc. bought a new stake in Cyclerion Therapeutics in the 2nd quarter worth about $57,000. Braidwell LP bought a new position in Cyclerion Therapeutics during the 2nd quarter valued at about $532,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Cyclerion Therapeutics in the second quarter worth approximately $1,013,000. 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.
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