Cyclerion Therapeutics (NASDAQ:KRSA) Stock Falls 6.4% – Here’s What Happened

Cyclerion Therapeutics, Inc. (NASDAQ:KRSA)’s share price traded down 6.4% during trading on Tuesday. The company traded as low as $30.42 and last traded at $30.04. Approximately 92,168 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 284,284 shares. The stock had previously closed at $32.09.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on KRSA shares. Guggenheim began coverage on shares of Cyclerion Therapeutics in a research report on Monday, September 28th. They set a “buy” rating and a $70.00 target price for the company. UBS Group started coverage on shares of Cyclerion Therapeutics in a research report on Friday, September 11th. They issued a “buy” rating and a $55.00 price target on the stock. Wall Street Zen raised shares of Cyclerion Therapeutics to a “sell” rating in a research note on Saturday, October 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cyclerion Therapeutics in a research note on Friday, July 24th. Finally, Wedbush started coverage on shares of Cyclerion Therapeutics in a report on Monday, October 5th. They set an “outperform” rating and a $44.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Cyclerion Therapeutics Trading Down 5.2%

The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -2.62 and a beta of 1.72.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Braidwell LP acquired a new stake in Cyclerion Therapeutics in the 2nd quarter valued at $532,000. ADAR1 Capital Management LLC bought a new stake in Cyclerion Therapeutics during the 2nd quarter worth about $1,013,000. Finally, BlackRock Inc. bought a new stake in Cyclerion Therapeutics during the 2nd quarter worth about $57,000. Institutional investors and hedge funds own 75.62% of the company’s stock.

Cyclerion Therapeutics Company Profile

Cyclerion Therapeutics, Inc was a clinical-stage biopharmaceutical company focused on developing medicines for serious central nervous system and cardiopulmonary diseases. The company’s research centered on soluble guanylate cyclase (sGC) stimulators, a class of compounds intended to regulate cellular signaling and potentially address diseases associated with impaired nitric oxide signaling.

Cyclerion was formed in 2019 as a spin-off from Ironwood Pharmaceuticals. Its historical development portfolio included olinciguat, an investigational treatment studied for sickle cell disease, and praliciguat, which was evaluated for conditions including diabetic nephropathy and nonalcoholic steatohepatitis.