Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) Sees Large Drop in Short Interest

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 4,442 shares, a drop of 75.4% from the August 31st total of 18,067 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 46,593 shares, the short-interest ratio is currently 0.1 days.

Cyclerion Therapeutics Stock Performance

Shares of NASDAQ:KRSA traded down $6.19 during trading on Friday, reaching $31.00. The stock had a trading volume of 34,799 shares, compared to its average volume of 56,937. Cyclerion Therapeutics has a one year low of $7.19 and a one year high of $59.36. The stock has a market capitalization of $20.74 million, a P/E ratio of -2.67 and a beta of 1.75.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of Cyclerion Therapeutics to a “hold” rating in a research note on Wednesday, September 9th. Stifel Nicolaus started coverage on shares of Cyclerion Therapeutics in a research note on Monday, September 14th. They issued a “buy” rating and a $43.00 price objective for the company. TD Cowen started coverage on Cyclerion Therapeutics in a research report on Monday, September 14th. They set a “buy” rating on the stock. Finally, UBS Group initiated coverage on Cyclerion Therapeutics in a report on Friday, September 11th. They issued a “buy” rating and a $55.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $49.00.

About Cyclerion Therapeutics

Cyclerion Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for serious diseases with substantial unmet medical needs. The company was established in 2019 as a spinout from Ironwood Pharmaceuticals and built its research portfolio around soluble guanylate cyclase (sGC) stimulation, a mechanism involved in regulating blood flow and cellular signaling.

Cyclerion’s development programs included olinciguat, an investigational therapy studied in sickle cell disease and other vascular conditions; praliciguat, an sGC stimulator evaluated for cardiometabolic and renal diseases; and IW-6463, a central nervous system-penetrant sGC stimulator investigated for neurological disorders.