Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) Short Interest Down 65.5% in August

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totaling 18,067 shares, a decrease of 65.5% from the August 15th total of 52,394 shares. Based on an average daily volume of 69,889 shares, the short-interest ratio is presently 0.3 days. Currently, 0.6% of the shares of the company are short sold.

Hedge Funds Weigh In On Cyclerion Therapeutics

A number of institutional investors have recently modified their holdings of the business. Two Sigma Investments LP bought a new stake in shares of Cyclerion Therapeutics during the 3rd quarter worth $31,000. BlackRock Inc. acquired a new position in Cyclerion Therapeutics during the second quarter worth about $57,000. Braidwell LP acquired a new position in Cyclerion Therapeutics during the second quarter worth about $532,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Cyclerion Therapeutics in the second quarter worth about $1,013,000. Institutional investors and hedge funds own 75.62% of the company’s stock.

Cyclerion Therapeutics Stock Performance

Shares of NASDAQ CYCN traded up $0.13 during trading hours on Monday, hitting $3.49. 435,914 shares of the stock were exchanged, compared to its average volume of 96,117. The company has a market cap of $16.33 million, a PE ratio of -2.10 and a beta of 1.75. The company’s fifty day simple moving average is $25.14 and its two-hundred day simple moving average is $21.43. Cyclerion Therapeutics has a 1-year low of $1.03 and a 1-year high of $8.48.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cyclerion Therapeutics in a research report on Friday, July 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Cyclerion Therapeutics has a consensus rating of “Sell”.

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.