Cyclerion Therapeutics (NASDAQ:CYCN) Trading Up 7.2% – Here’s Why

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN)’s share price was up 7.2% during trading on Thursday . The stock traded as high as $1.99 and last traded at $1.93. Approximately 878,164 shares were traded during trading, a decline of 80% from the average daily volume of 4,346,326 shares. The stock had previously closed at $1.80.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Cyclerion Therapeutics in a report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Cyclerion Therapeutics Stock Performance

The stock has a market cap of $7.58 million, a PE ratio of -2.57 and a beta of 0.96. The company has a 50 day moving average of $1.54 and a two-hundred day moving average of $2.25.

Cyclerion Therapeutics (NASDAQ:CYCN) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($0.30) earnings per share (EPS) for the quarter. The business had revenue of $0.88 million for the quarter. Cyclerion Therapeutics had a negative return on equity of 24.61% and a negative net margin of 77.02%.

Hedge Funds Weigh In On Cyclerion Therapeutics

An institutional investor recently bought a new position in Cyclerion Therapeutics stock. Two Sigma Investments LP bought a new stake in Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,293 shares of the company’s stock, valued at approximately $31,000. Two Sigma Investments LP owned 0.40% of Cyclerion Therapeutics as of its most recent SEC filing. 75.62% of the stock is owned by hedge funds and other institutional investors.

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.