Short Interest in Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) Drops By 40.9%

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) was the target of a significant decrease in short interest in the month of 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. Based on an average trading volume of 1,850,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 3.9% of the company’s stock are sold short.

Cyclerion Therapeutics Stock Performance

Shares of Cyclerion Therapeutics stock opened at $2.57 on Monday. The business has a 50-day simple moving average of $2.95 and a 200-day simple moving average of $2.89. The company has a market cap of $6.96 million, a PE ratio of -2.11 and a beta of 2.09. Cyclerion Therapeutics has a one year low of $1.27 and a one year high of $9.47.

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

Institutional Inflows and Outflows

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

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.