Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) Sees Significant Increase in Short Interest

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) was the target of a large increase in short interest in October. As of October 30th, there was short interest totaling 167,367 shares, an increase of 603.1% from the October 15th total of 23,804 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average trading volume of 178,210 shares, the days-to-cover ratio is presently 0.9 days.

Cyclerion Therapeutics Price Performance

KRSA traded down $0.56 on Thursday, reaching $31.28. The company had a trading volume of 167,583 shares, compared to its average volume of 175,695. Cyclerion Therapeutics has a 1 year low of $7.19 and a 1 year high of $59.36. The stock’s 50-day simple moving average is $32.08.

Cyclerion Therapeutics (NASDAQ:KRSA) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($3.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($50.40) by $47.21. As a group, equities analysts expect that Cyclerion Therapeutics will post -5.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

KRSA has been the topic of a number of recent analyst reports. Guggenheim began coverage on Cyclerion Therapeutics in a report on Monday, September 28th. They issued a “buy” rating and a $70.00 price objective on the stock. Zacks Research upgraded Cyclerion Therapeutics to a “hold” rating in a research note on Wednesday, September 9th. Wedbush initiated coverage on Cyclerion Therapeutics in a report on Monday, October 5th. They issued an “outperform” rating and a $44.00 price target for the company. 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 target on the stock. Finally, UBS Group assumed coverage on shares of Cyclerion Therapeutics in a report on Friday, September 11th. They set a “buy” rating and a $55.00 price objective on the stock. 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 given a Sell rating to the company. Based on data from MarketBeat, Cyclerion Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KRSA. Braidwell LP acquired a new position in Cyclerion Therapeutics during the second quarter worth approximately $532,000. ADAR1 Capital Management LLC purchased a new stake in Cyclerion Therapeutics in the second quarter valued at approximately $1,013,000. Finally, BlackRock Inc. purchased a new stake in Cyclerion Therapeutics in the second quarter valued at approximately $57,000. Hedge funds and other institutional investors 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.