Cyclerion Therapeutics (NASDAQ:KRSA) Stock Price Down 6.4% – Here’s What Happened

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA)’s stock price dropped 6.4% during mid-day trading on Tuesday. The company traded as low as $30.42 and last traded at $30.04. Approximately 92,168 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 284,284 shares. The stock had previously closed at $32.09.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KRSA. UBS Group initiated coverage on Cyclerion Therapeutics in a report on Friday, September 11th. They set a “buy” rating and a $55.00 target price on the stock. Wedbush began coverage on Cyclerion Therapeutics in a research report on Monday, October 5th. They set an “outperform” rating and a $44.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Cyclerion Therapeutics in a research note on Friday, July 24th. TD Cowen started coverage on Cyclerion Therapeutics in a research report on Monday, September 14th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus assumed coverage on Cyclerion Therapeutics in a research report on Monday, September 14th. They set a “buy” rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Cyclerion Therapeutics Stock Performance

The stock has a market capitalization of $1.39 billion, a PE ratio of -2.62 and a beta of 1.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Braidwell LP acquired a new position in shares of Cyclerion Therapeutics during the 2nd quarter worth about $532,000. ADAR1 Capital Management LLC bought a new stake in shares of Cyclerion Therapeutics in the 2nd quarter valued at about $1,013,000. Finally, BlackRock Inc. bought a new stake in shares of Cyclerion Therapeutics in the 2nd quarter valued at 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.