Fidelity Management & Research Co recently announced the acquisition of new stake in Cyclerion Therapeutics Inc. (NASDAQ:CYCN). The institutional investor has increased its shareholding in the Healthcare company by 34.52% to 3.41 million shares with purchase of 0.88 million shares. This fresh investment now brings its stake to 7.85% valued currently at $2.24 million. In addition, Geode Capital Management LLC raised its holdings by 10125.0 to 0.58 million shares. And Diametric Capital LP has lifted its position by 0.07% or 172.0 shares – to 0.24 million shares.
With over 0.17 million Cyclerion Therapeutics Inc. (CYCN) shares trading Friday and a closing price of $0.71 on the day, the dollar volume was approximately $0.12 million. The shares have shown a negative half year performance of -15.98% and its price on 01/20/23 gained nearly 3.49%. Currently, there are 43.49M common shares owned by the public and among those 41.13M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for CYCN have a consensus price objective of $4.00. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $4.00. But an upside of 82.25% will see the stock hit the forecast high price target while median target price for the stock is $4.00.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Cyclerion Therapeutics Inc. are Vanguard Total Stock Market Index, Fidelity Growth Company Fund, and Fidelity Select Port. – Biotechno. Vanguard Total Stock Market Index owns 1.14 million shares of the company’s stock, all valued at over $0.75 million. Fidelity Growth Company Fund sold 10752.0 shares to see its total holdings shrink to 0.99 million shares valued at over $0.65 million and representing 2.29% of the shares outstanding. Fidelity Select Port. – Biotechno now owns shares totaling to 1.93% of the shares outstanding.
Shares of Cyclerion Therapeutics Inc. (NASDAQ: CYCN) opened at $0.70, up $0.01 from a prior closing price of $0.69. However, the script later moved the day high at 0.7499, up 3.49%. The company’s stock has a 5-day price change of 19.03% and 87.75% over the past three months. CYCN shares are trading 8.84% year to date (YTD), with the 12-month market performance down to -45.48% lower. It has a 12-month low price of $0.35 and touched a high of $1.49 over the same period. CYCN has an average intraday trading volume of 209.28K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 18.95%, 11.74%, and -0.22% respectively.
Institutional ownership of Cyclerion Therapeutics Inc. (NASDAQ: CYCN) shares accounts for 50.80% of the company’s 43.49M shares outstanding. Mutual fund holders own 23.47%, while other institutional holders and individual stakeholders account for 37.83% and 11.00% respectively.
It has a market capitalization of $30.01M and a beta (3y monthly) value of 2.05. The earnings-per-share (ttm) stands at -$1.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.62% over the week and 14.05% over the month.
Analysts forecast that Cyclerion Therapeutics Inc. (CYCN) will achieve an EPS of -$0.31 for the current quarter, -$0.25 for the next quarter and -$0.99 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.35 while analysts give the company a high EPS estimate of -$0.27. Comparatively, EPS for the current quarter was -$0.26 a year ago. Earnings per share for the fiscal year are expected to increase by 48.40%, and -19.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Cyclerion Therapeutics Inc. (CYCN) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CYCN, a number of firms have released research notes about the stock. Truist stated their Buy rating for the stock in a research note on October 20, 2021, with the firm’s price target at $14. Cantor Fitzgerald coverage for the Cyclerion Therapeutics Inc. (CYCN) stock in a research note released on September 24, 2021 offered a Overweight rating with a price target of $7.
