Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) Stock Short Interest Jumps 160.1%

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 11,552 shares, an increase of 160.1% from the September 15th total of 4,442 shares. Approximately 2.6% of the company’s stock are sold short. Based on an average trading volume of 83,653 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Cyclerion Therapeutics

A number of institutional investors have recently modified their holdings of the company. Braidwell LP acquired a new stake in shares of Cyclerion Therapeutics in the second quarter worth $532,000. ADAR1 Capital Management LLC acquired a new position in Cyclerion Therapeutics in the 2nd quarter valued at $1,013,000. Finally, BlackRock Inc. acquired a new position in Cyclerion Therapeutics in the 2nd quarter valued at $57,000. Institutional investors own 75.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Guggenheim started coverage on shares of Cyclerion Therapeutics in a research note on Monday, September 28th. They issued a “buy” rating and a $70.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Cyclerion Therapeutics in a research note on Friday, July 24th. Wall Street Zen upgraded shares of Cyclerion Therapeutics to a “sell” rating in a report on Saturday, October 3rd. Zacks Research upgraded shares of Cyclerion Therapeutics to a “hold” rating in a report on Wednesday, September 9th. Finally, Wedbush assumed coverage on shares of Cyclerion Therapeutics in a research note on Monday, October 5th. They issued an “outperform” rating and a $44.00 price objective for the company. One investment 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 issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.00.

Cyclerion Therapeutics Price Performance

Shares of KRSA stock traded up $0.12 during trading on Monday, reaching $34.04. The company had a trading volume of 59,197 shares, compared to its average volume of 79,650. Cyclerion Therapeutics has a one year low of $7.19 and a one year high of $59.36.

Cyclerion Therapeutics Company Profile

Cyclerion Therapeutics, Inc was a clinical-stage biopharmaceutical company focused on developing medicines for serious diseases involving the central nervous system, cardiovascular system, kidneys and other organs. The company’s research centered on soluble guanylate cyclase stimulators, a class of compounds designed to influence cellular signaling pathways associated with blood flow, inflammation and tissue function.

Cyclerion’s development portfolio historically included IW-6463, an investigational central nervous system therapy, as well as olinciguat and praliciguat, which were studied for potential applications in conditions including neurodegenerative disease, sickle cell disease and diabetic kidney disease.