Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) Stock Short Interest Declines 75.4%

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 4,442 shares, a decrease of 75.4% from the August 31st total of 18,067 shares. Based on an average daily trading volume, of 46,593 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.0% of the company’s shares are short sold.

Cyclerion Therapeutics Stock Down 1.7%

Shares of Cyclerion Therapeutics stock traded down $0.54 on Monday, reaching $30.46. 42,881 shares of the company traded hands, compared to its average volume of 301,270. Cyclerion Therapeutics has a 52 week low of $7.19 and a 52 week high of $59.36. The company has a market capitalization of $20.41 million, a P/E ratio of -2.62 and a beta of 1.75.

Analyst Ratings Changes

Several brokerages have commented on KRSA. UBS Group assumed coverage on Cyclerion Therapeutics in a report on Friday, September 11th. They set a “buy” rating and a $55.00 target price on the stock. Guggenheim started coverage on Cyclerion Therapeutics in a research report on Monday. They issued a “buy” rating and a $70.00 target price for the company. Stifel Nicolaus assumed coverage on shares of Cyclerion Therapeutics in a report on Monday, September 14th. They set a “buy” rating and a $43.00 price objective on the stock. TD Cowen started coverage on Cyclerion Therapeutics in a research note on Monday, September 14th. They issued a “buy” rating for the company. Finally, Zacks Research upgraded Cyclerion Therapeutics to a “hold” rating in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $56.00.

About Cyclerion Therapeutics

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.