Cyclerion Therapeutics (NASDAQ:CYCN) Shares Up 2% – Here’s Why

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN)’s stock price shot up 2% during trading on Wednesday . The stock traded as high as $3.08 and last traded at $3.06. 111,689 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 14,278,410 shares. The stock had previously closed at $3.00.

Cyclerion Therapeutics Stock Up 2.0%

The firm’s 50 day simple moving average is $2.15 and its 200 day simple moving average is $1.82. The company has a market cap of $13.25 million, a price-to-earnings ratio of -2.64 and a beta of 0.89.

Cyclerion Therapeutics (NASDAQ:CYCN) last announced its quarterly earnings results on Monday, March 30th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.19. Cyclerion Therapeutics had a negative net margin of 170.11% and a negative return on equity of 39.23%. The company had revenue of $1.03 million for the quarter, compared to analyst estimates of $0.10 million. Analysts anticipate that Cyclerion Therapeutics, Inc. will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cyclerion Therapeutics stock. Two Sigma Investments LP acquired a new stake in Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,293 shares of the company’s stock, valued at approximately $31,000. Two Sigma Investments LP owned approximately 0.40% of Cyclerion Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 75.62% of the company’s stock.

About Cyclerion Therapeutics

Cyclerion Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of inhibitors and stimulators of soluble guanylate cyclase (sGC), an intracellular enzyme that plays a critical role in the regulation of vascular tone, cellular proliferation and inflammation. By targeting the nitric oxide (NO)–sGC–cyclic guanosine monophosphate (cGMP) signaling pathway, Cyclerion aims to address a range of cardiometabolic, cardiovascular, pulmonary and neurological disorders with significant unmet medical need.

The company’s lead program, praliciguat, is an oral sGC stimulator investigated for indications such as diabetic nephropathy, metabolic syndrome and heart failure with preserved ejection fraction.