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

Shares of Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) are going 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 closing bell on Tuesday, September 8th.

Cyclerion Therapeutics Trading Down 5.0%

CYCN traded down $0.20 during trading on Friday, reaching $3.79. 60,011 shares of the company’s stock were exchanged, compared to its average volume of 2,313,403. Cyclerion Therapeutics has a one year low of $1.03 and a one year high of $8.48. The firm has a fifty day moving average price of $3.64 and a two-hundred day moving average price of $2.92. The stock has a market capitalization of $17.74 million, a PE ratio of -2.28 and a beta of 1.76.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cyclerion Therapeutics in a research report on Friday, July 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On Cyclerion Therapeutics

A number of hedge funds have recently bought and sold shares of CYCN. Two Sigma Investments LP bought a new position in Cyclerion Therapeutics in the 3rd quarter valued at about $31,000. BlackRock Inc. bought a new stake in Cyclerion Therapeutics during the 2nd quarter worth approximately $57,000. ADAR1 Capital Management LLC bought a new stake in Cyclerion Therapeutics during the 2nd quarter worth approximately $1,013,000. Finally, Braidwell LP purchased a new stake in shares of Cyclerion Therapeutics in the second quarter worth approximately $532,000. Institutional investors own 75.62% of the company’s stock.

Cyclerion Therapeutics Company Profile

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.