Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) Stock Short Interest Climbs 106.1%

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 23,804 shares, an increase of 106.1% from the September 30th total of 11,552 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 97,778 shares, the short-interest ratio is currently 0.2 days.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KRSA. Stifel Nicolaus assumed coverage on Cyclerion Therapeutics in a report on Monday, September 14th. They set a “buy” rating and a $43.00 target price for the company. Guggenheim started coverage on shares of Cyclerion Therapeutics in a research report on Monday, September 28th. They issued a “buy” rating and a $70.00 price target on the stock. Wedbush initiated coverage on shares of Cyclerion Therapeutics in a report on Monday, October 5th. They issued an “outperform” rating and a $44.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cyclerion Therapeutics in a research note on Friday, July 24th. Finally, Zacks Research upgraded shares of Cyclerion Therapeutics to a “hold” rating in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cyclerion Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Cyclerion Therapeutics Price Performance

NASDAQ:KRSA traded down $0.08 during trading hours on Friday, reaching $30.14. The company had a trading volume of 104,184 shares, compared to its average volume of 147,471. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -2.59 and a beta of 1.72. Cyclerion Therapeutics has a one year low of $7.19 and a one year high of $59.36.

Institutional Trading of Cyclerion Therapeutics

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

Cyclerion Therapeutics Company Profile

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.