Cyclerion Therapeutics, Inc. (NASDAQ:KRSA – Get Free Report) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totaling 4,442 shares, a drop of 75.4% from the August 31st total of 18,067 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 46,593 shares, the days-to-cover ratio is currently 0.1 days.
Cyclerion Therapeutics Trading Down 16.6%
Shares of NASDAQ:KRSA traded down $6.19 on Friday, hitting $31.00. 34,799 shares of the company were exchanged, compared to its average volume of 56,937. The company has a market capitalization of $20.74 million, a P/E ratio of -2.67 and a beta of 1.75. Cyclerion Therapeutics has a 1-year low of $7.19 and a 1-year high of $59.36.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on KRSA. Zacks Research raised Cyclerion Therapeutics to a “hold” rating in a research report on Wednesday, September 9th. Stifel Nicolaus initiated coverage on Cyclerion Therapeutics in a report on Monday, September 14th. They issued a “buy” rating and a $43.00 price target for the company. UBS Group assumed coverage on Cyclerion Therapeutics in a research note on Friday, September 11th. They set a “buy” rating and a $55.00 price target on the stock. Finally, TD Cowen initiated coverage on shares of Cyclerion Therapeutics in a report on Monday, September 14th. They set a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cyclerion Therapeutics presently has a consensus rating of “Buy” and an average price target of $49.00.
Cyclerion Therapeutics Company Profile
Cyclerion Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for serious diseases with substantial unmet medical needs. The company was established in 2019 as a spinout from Ironwood Pharmaceuticals and built its research portfolio around soluble guanylate cyclase (sGC) stimulation, a mechanism involved in regulating blood flow and cellular signaling.
Cyclerion’s development programs included olinciguat, an investigational therapy studied in sickle cell disease and other vascular conditions; praliciguat, an sGC stimulator evaluated for cardiometabolic and renal diseases; and IW-6463, a central nervous system-penetrant sGC stimulator investigated for neurological disorders.
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