Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) Shares Shorted: Short Interest Up 160.1% in September

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 11,552 shares, an increase of 160.1% from the September 15th total of 4,442 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average daily volume of 83,653 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

A number of equities analysts have recently commented on KRSA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cyclerion Therapeutics in a research note on Friday, July 24th. Stifel Nicolaus started coverage on Cyclerion Therapeutics in a report on Monday, September 14th. They issued a “buy” rating and a $43.00 target price on the stock. Guggenheim assumed coverage on Cyclerion Therapeutics in a research report on Monday, September 28th. They issued a “buy” rating and a $70.00 price target on the stock. Wedbush began coverage on Cyclerion Therapeutics in a report on Monday, October 5th. They set an “outperform” rating and a $44.00 price target for the company. Finally, TD Cowen initiated coverage on Cyclerion Therapeutics in a research report on Monday, September 14th. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Cyclerion Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $53.00.

Cyclerion Therapeutics Stock Up 0.4%

KRSA stock traded up $0.12 during midday trading on Monday, hitting $34.04. The stock had a trading volume of 59,197 shares, compared to its average volume of 79,650. Cyclerion Therapeutics has a 52 week low of $7.19 and a 52 week high of $59.36.

Hedge Funds Weigh In On Cyclerion Therapeutics

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

Cyclerion Therapeutics Company Profile

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.