Cyclerion Therapeutics (NASDAQ:CYCN) Stock to Reverse Split on Wednesday, September 9th

Cyclerion Therapeutics, Inc. (NASDAQ:CYCN) shares are set to reverse split on the morning of Wednesday, September 9th. The 1-7 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, September 8th.

Cyclerion Therapeutics Stock Performance

Shares of CYCN stock traded down $0.20 during mid-day trading on Friday, hitting $3.79. 60,011 shares of the stock traded hands, compared to its average volume of 43,886. Cyclerion Therapeutics has a 52-week low of $1.03 and a 52-week high of $8.48. The stock’s fifty day moving average is $3.64 and its two-hundred day moving average is $2.92.

Cyclerion Therapeutics (NASDAQ:CYCN) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($7.10) by $6.69. Cyclerion Therapeutics had a negative net margin of 170.11% and a negative return on equity of 87.96%. On average, equities analysts forecast that Cyclerion Therapeutics will post -1.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cyclerion Therapeutics in a report on Friday, July 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Trading of Cyclerion Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. ADAR1 Capital Management LLC purchased a new position in shares of Cyclerion Therapeutics during the 2nd quarter valued at approximately $1,013,000. Two Sigma Investments LP acquired a new stake in Cyclerion Therapeutics in the 3rd quarter valued at $31,000. BlackRock Inc. purchased a new stake in Cyclerion Therapeutics in the 2nd quarter worth $57,000. Finally, Braidwell LP purchased a new stake in Cyclerion Therapeutics in the 2nd quarter worth $532,000. 75.62% of the stock is currently owned by hedge funds and other institutional investors.

Cyclerion Therapeutics Company Profile

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.