Cyclerion Therapeutics (NASDAQ:CYCN) Stock Price Down 7.9% – Here’s Why

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN)’s stock price was down 7.9% during trading on Thursday . The company traded as low as $3.16 and last traded at $3.16. Approximately 4,394 shares changed hands during trading, a decline of 100% from the average daily volume of 1,306,428 shares. The stock had previously closed at $3.43.

Cyclerion Therapeutics Stock Performance

The stock has a fifty day simple moving average of $2.76 and a 200 day simple moving average of $2.92. The firm has a market cap of $10.14 million, a P/E ratio of -2.59 and a beta of 1.67.

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 company had revenue of $1.81 million for the quarter.

Institutional Investors Weigh In On Cyclerion Therapeutics

A hedge fund recently bought a new stake in Cyclerion Therapeutics stock. Renaissance Technologies LLC bought a new position in Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,611 shares of the company’s stock, valued at approximately $34,000. Renaissance Technologies LLC owned approximately 0.39% of Cyclerion Therapeutics as of its most recent filing with the Securities & Exchange Commission. 75.62% of the stock is owned by institutional investors and hedge funds.

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.