Cyclerion Therapeutics, Inc. (NASDAQ:KRSA) Shares Shorted: Short Interest Up 603.1% in October

Key Points

• Short interest surged 603.1% in October to 167,367 shares, equal to about 0.5% of shares outstanding; the days-to-cover ratio was 0.9.
• Institutional investors and hedge funds own 75.62% of Cyclerion, with ADAR1 Capital Management, Braidwell, and BlackRock among firms that recently opened positions.
• Analyst views are mixed but lean positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $53, alongside one Sell rating.

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA - Get Free Report) saw a large increase in short interest during the month of 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. Approximately 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 178,210 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of Cyclerion Therapeutics

A number of hedge funds have recently made changes to their positions in KRSA. ADAR1 Capital Management LLC bought a new stake in shares of Cyclerion Therapeutics during the second quarter worth about $1,013,000. Braidwell LP acquired a new position in shares of Cyclerion Therapeutics in the second quarter valued at approximately $532,000. Finally, BlackRock Inc. acquired a new position in shares of Cyclerion Therapeutics in the second quarter valued at approximately $57,000. 75.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Cyclerion Therapeutics to a "sell" rating in a research report on Saturday, October 3rd. Wedbush began coverage on Cyclerion Therapeutics in a research report on Monday, October 5th. They set an "outperform" rating and a $44.00 price target on the stock. TD Cowen began coverage on Cyclerion Therapeutics in a research note on Monday, September 14th. They set a "buy" rating on the stock. Guggenheim assumed coverage on Cyclerion Therapeutics in a report on Monday, September 28th. They issued a "buy" rating and a $70.00 price objective for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cyclerion Therapeutics in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $53.00.

Cyclerion Therapeutics Stock Down 0.2%

Shares of KRSA opened at $31.11 on Wednesday. Cyclerion Therapeutics has a 52 week low of $7.19 and a 52 week high of $59.36. The company has a market cap of $1.42 billion, a PE ratio of -2.45 and a beta of 1.85. The firm has a fifty day moving average price of $32.11.

Cyclerion Therapeutics (NASDAQ:KRSA - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported ($3.19) earnings per share for the quarter, beating the consensus estimate of ($50.40) by $47.21. On average, research analysts anticipate that Cyclerion Therapeutics will post -5.35 earnings per share for the current fiscal year.

About Cyclerion Therapeutics

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.

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