Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) Short Interest Up 96.3% in June

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 48,068 shares, a growth of 96.3% from the May 31st total of 24,488 shares. Based on an average daily volume of 29,463 shares, the days-to-cover ratio is currently 1.6 days. Approximately 1.7% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Cyclerion Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Cyclerion Therapeutics Price Performance

CYCN traded up $0.12 during trading on Thursday, reaching $3.49. 5,322 shares of the company’s stock were exchanged, compared to its average volume of 3,042,810. Cyclerion Therapeutics has a 1 year low of $1.03 and a 1 year high of $8.48. The company’s fifty day simple moving average is $3.14 and its 200-day simple moving average is $2.26. The stock has a market capitalization of $15.11 million, a P/E ratio of -2.57 and a beta of 1.74.

Cyclerion Therapeutics (NASDAQ:CYCN) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($17.20) by $16.44. Cyclerion Therapeutics had a negative net margin of 170.11% and a negative return on equity of 62.10%. Equities analysts forecast that Cyclerion Therapeutics will post -1.2 EPS for the current year.

Hedge Funds Weigh In On Cyclerion Therapeutics

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

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.