Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) Sees Large Decline in Short Interest

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 70,800 shares, a decrease of 40.9% from the February 28th total of 119,700 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average trading volume of 1,850,000 shares, the days-to-cover ratio is currently 0.0 days.

Cyclerion Therapeutics Stock Performance

Shares of Cyclerion Therapeutics stock traded down $0.04 on Friday, hitting $2.57. The company’s stock had a trading volume of 12,682 shares, compared to its average volume of 1,321,396. The company has a market capitalization of $6.96 million, a price-to-earnings ratio of -2.11 and a beta of 2.09. The firm has a fifty day moving average price of $2.95 and a 200-day moving average price of $2.89. Cyclerion Therapeutics has a 1 year low of $1.27 and a 1 year high of $9.47.

Cyclerion Therapeutics (NASDAQ:CYCN) last announced its earnings results on Tuesday, March 4th. The company reported $0.22 earnings per share for the quarter. The business had revenue of $1.81 million for the quarter.

Hedge Funds Weigh In On Cyclerion Therapeutics

A hedge fund recently bought a new stake in Cyclerion Therapeutics stock. Renaissance Technologies LLC purchased a new stake in Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 10,611 shares of the company’s stock, valued at approximately $34,000. Renaissance Technologies LLC owned approximately 0.39% of Cyclerion Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 75.62% of the company’s stock.

About Cyclerion Therapeutics

Cyclerion Therapeutics, Inc, a biopharmaceutical company, develops treatments for serious diseases. It is developing Olinciguat, an orally administered vascular soluble guanylate cyclase (sGC) stimulator, which is in Phase 2 clinical trial to out-license for cardiovascular diseases; and Praliciguat, a systemic sGC stimulator that is licensed to Akebia Therapeutics, Inc for the treatment of rare kidney disease.