Cyclerion Therapeutics Shares Set to Reverse Split on Wednesday, September 9th (NASDAQ:CYCN)

Shares of Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) are set to reverse split before the market opens on Wednesday, September 9th. The 1-7 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, September 8th.

Cyclerion Therapeutics Stock Down 5.0%

Shares of Cyclerion Therapeutics stock traded down $0.20 on Friday, hitting $3.79. The stock had a trading volume of 60,011 shares, compared to its average volume of 2,313,403. The stock has a market cap of $17.74 million, a price-to-earnings ratio of -2.28 and a beta of 1.76. Cyclerion Therapeutics has a twelve month low of $1.03 and a twelve month high of $8.48. The business’s 50 day moving average is $3.64 and its two-hundred day moving average is $2.92.

Cyclerion Therapeutics (NASDAQ:CYCN) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($7.10) by $6.69. Cyclerion Therapeutics had a negative return on equity of 87.96% and a negative net margin of 170.11%. As a group, equities analysts predict that Cyclerion Therapeutics will post -1.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Cyclerion Therapeutics in a research report on Friday, July 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Hedge Funds Weigh In On Cyclerion Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. ADAR1 Capital Management LLC acquired a new stake in Cyclerion Therapeutics in the second quarter valued at approximately $1,013,000. BlackRock Inc. bought a new position in Cyclerion Therapeutics in the second quarter valued at about $57,000. Two Sigma Investments LP acquired a new stake in shares of Cyclerion Therapeutics during the third quarter valued at about $31,000. Finally, Braidwell LP bought a new stake in shares of Cyclerion Therapeutics during the second quarter worth about $532,000. 75.62% of the stock is currently owned by institutional investors and hedge funds.

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.