Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) Sees Large Decline in Short Interest

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 624,800 shares, a decline of 59.4% from the December 15th total of 1,540,000 shares. Based on an average daily volume of 403,000 shares, the days-to-cover ratio is currently 1.6 days.

Several hedge funds have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cyclerion Therapeutics in the second quarter worth $412,000. Ergoteles LLC bought a new stake in shares of Cyclerion Therapeutics in the second quarter worth $375,000. Dimensional Fund Advisors LP grew its holdings in shares of Cyclerion Therapeutics by 160.1% in the second quarter. Dimensional Fund Advisors LP now owns 158,994 shares of the company’s stock worth $620,000 after acquiring an additional 97,861 shares during the period. XTX Topco Ltd grew its holdings in shares of Cyclerion Therapeutics by 34.4% in the second quarter. XTX Topco Ltd now owns 17,968 shares of the company’s stock worth $70,000 after acquiring an additional 4,603 shares during the period. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of Cyclerion Therapeutics during the second quarter worth about $87,000. Hedge funds and other institutional investors own 57.01% of the company’s stock.

CYCN has been the subject of a number of recent research reports. Truist initiated coverage on Cyclerion Therapeutics in a research note on Wednesday, October 20th. They set a “buy” rating and a $14.00 price objective for the company. Zacks Investment Research upgraded Cyclerion Therapeutics from a “hold” rating to a “buy” rating and set a $1.75 price objective for the company in a research note on Wednesday. Truist Securities initiated coverage on Cyclerion Therapeutics in a research note on Wednesday, October 20th. They set a “buy” rating and a $14.00 price objective for the company. Finally, Cantor Fitzgerald initiated coverage on Cyclerion Therapeutics in a research note on Friday, September 24th. They set an “overweight” rating and a $7.00 price objective for the company.

CYCN stock opened at $1.39 on Friday. Cyclerion Therapeutics has a 1-year low of $1.35 and a 1-year high of $6.90. The business has a fifty day moving average price of $1.98 and a 200-day moving average price of $2.75.

Cyclerion Therapeutics (NASDAQ:CYCN) last posted its quarterly earnings results on Tuesday, November 9th. The company reported ($0.26) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.09. Cyclerion Therapeutics had a negative return on equity of 104.73% and a negative net margin of 1,696.27%. The firm had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $3.00 million. As a group, research analysts anticipate that Cyclerion Therapeutics will post -1.38 EPS for the current fiscal year.

Cyclerion Therapeutics Company Profile

Cyclerion Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery, development, and commercialization of treatments for serious and orphan diseases, through the use of soluble guanylate cyclase (sGC) pharmacology. Its product pipeline includes several sGC stimulators, a small molecules that act synergistically with nitric oxide on sGC to boost production of cyclic guanosine monophosphate (cGMP).

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