Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) Stock Short Interest Rises 603.1%

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) was the target of a significant increase in short interest in the month of October. As of October 30th, there was short interest totaling 167,367 shares, an increase of 603.1% from the October 15th total of 23,804 shares. Based on an average daily volume of 178,210 shares, the short-interest ratio is presently 0.9 days. Currently, 0.5% of the company’s shares are short sold.

Cyclerion Therapeutics Stock Performance

Shares of NASDAQ:KRSA opened at $31.28 on Friday. Cyclerion Therapeutics has a 52-week low of $7.19 and a 52-week high of $59.36. The company has a market capitalization of $1.42 billion, a PE ratio of -2.46 and a beta of 1.85. The business has a 50 day moving average price of $32.08.

Cyclerion Therapeutics (NASDAQ:KRSA) last issued its earnings results on Thursday, November 5th. The company reported ($3.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($50.40) by $47.21. As a group, sell-side analysts anticipate that Cyclerion Therapeutics will post -5.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. TD Cowen assumed coverage on shares of Cyclerion Therapeutics in a research note on Monday, September 14th. They set a “buy” rating for the company. Guggenheim began coverage on shares of Cyclerion Therapeutics in a report on Monday, September 28th. They issued a “buy” rating and a $70.00 price target on the stock. UBS Group started coverage on shares of Cyclerion Therapeutics in a research note on Friday, September 11th. They issued a “buy” rating and a $55.00 price target on the stock. Stifel Nicolaus began coverage on shares of Cyclerion Therapeutics in a report on Monday, September 14th. They set a “buy” rating and a $43.00 price objective for the company. Finally, Zacks Research upgraded shares of Cyclerion Therapeutics to a “hold” rating in a report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

Hedge Funds Weigh In On Cyclerion Therapeutics

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

About Cyclerion Therapeutics

Cyclerion Therapeutics, Inc. was a clinical-stage biopharmaceutical company focused on developing medicines for serious central nervous system and cardiopulmonary diseases. The company’s research centered on soluble guanylate cyclase (sGC) stimulators, a class of compounds intended to regulate cellular signaling and potentially address diseases associated with impaired nitric oxide signaling. Cyclerion was formed in 2019 as a spin-off from Ironwood Pharmaceuticals. Its historical development portfolio included olinciguat, an investigational treatment studied for sickle cell disease, and praliciguat, which was evaluated for conditions including diabetic nephropathy and nonalcoholic steatohepatitis.