Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) Stock Short Interest Jumps 160.1%

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KRSA. Stifel Nicolaus initiated coverage on Cyclerion Therapeutics in a report on Monday, September 14th. They issued a “buy” rating and a $43.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cyclerion Therapeutics in a report on Friday, July 24th. Zacks Research raised shares of Cyclerion Therapeutics to a “hold” rating in a report on Wednesday, September 9th. Wall Street Zen upgraded shares of Cyclerion Therapeutics to a “sell” rating in a research report on Saturday, October 3rd. Finally, TD Cowen started coverage on shares of 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 issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Institutional Investors Weigh In On Cyclerion Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Braidwell LP acquired a new position in Cyclerion Therapeutics during the second quarter worth $532,000. ADAR1 Capital Management LLC purchased a new stake in Cyclerion Therapeutics in the 2nd quarter valued at $1,013,000. Finally, BlackRock Inc. acquired a new stake in shares of Cyclerion Therapeutics in the 2nd quarter worth $57,000. Institutional investors and hedge funds own 75.62% of the company’s stock.

Cyclerion Therapeutics Price Performance

KRSA traded down $2.38 during trading on Tuesday, reaching $31.66. The company’s stock had a trading volume of 170,630 shares, compared to its average volume of 289,104. The firm has a market capitalization of $21.21 million, a price-to-earnings ratio of -2.73 and a beta of 1.72. Cyclerion Therapeutics has a 1 year low of $7.19 and a 1 year high of $59.36.

About Cyclerion Therapeutics

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.