Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) Short Interest Down 13.9% in October

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 15,500 shares, a decrease of 13.9% from the October 15th total of 18,000 shares. Based on an average trading volume of 7,200 shares, the short-interest ratio is presently 2.2 days. Approximately 0.8% of the shares of the stock are short sold.

Hedge Funds Weigh In On Cyclerion Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp purchased a new position in shares of Cyclerion Therapeutics during the 1st quarter worth $28,000. Prelude Capital Management LLC boosted its stake in Cyclerion Therapeutics by 29.2% during the first quarter. Prelude Capital Management LLC now owns 100,255 shares of the company’s stock worth $111,000 after buying an additional 22,672 shares during the period. Renaissance Technologies LLC boosted its position in shares of Cyclerion Therapeutics by 50.7% during the 2nd quarter. Renaissance Technologies LLC now owns 456,077 shares of the company’s stock worth $250,000 after purchasing an additional 153,519 shares during the period. Prudential Financial Inc. acquired a new stake in Cyclerion Therapeutics in the 2nd quarter valued at approximately $29,000. Finally, Jane Street Group LLC acquired a new position in Cyclerion Therapeutics during the second quarter worth $32,000. Institutional investors and hedge funds own 62.84% of the company’s stock.

Cyclerion Therapeutics Price Performance

Shares of Cyclerion Therapeutics stock opened at $2.01 on Friday. The stock’s 50 day simple moving average is $3.14 and its 200-day simple moving average is $3.79. The stock has a market cap of $4.92 million, a P/E ratio of -0.36 and a beta of 1.89. Cyclerion Therapeutics has a 1-year low of $1.87 and a 1-year high of $19.66.

Cyclerion Therapeutics Company Profile

Cyclerion Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovering, development, and commercialization of medicines for serious central nervous system (CNS) diseases. Its lead product candidate is Zagociguat (CY6463), a CNS-penetrant, soluble guanylate cyclase (sGC) stimulator that is in Phase IIa trials for the treatment of mitochondrial encephalomyopathy, lactic acidosis, and stroke-like episodes, as well as Alzheimer's disease with vascular pathology; and Phase 1 trials diagnosed with schizophrenia in adults.