Vault-13

CYCLERION THERAPEUTICS INC

COM · CUSIP 23255M204

16 institutional holders -2 vs Q3 2023
1,070,1881.1m shares reported held*
$3.6mreported value*
0 new 6 added 5 reduced 2 sold out net sold ≈ $7.0k (-2.1k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $3.35. Options: 3 managers hold calls ($346.7k notional), 1 hold puts ($0).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

01020Q1 23: 1Q2 23: 19Q3 23: 18Q4 23: 1616Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q1 20231
Q2 202319
Q3 202318
Q4 202316

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
20020Q2 23: 19 bought or addedQ2 23: 1 cut or sold outQ2 23Q3 23: 4 bought or addedQ3 23: 7 cut or sold outQ3 23Q4 23: 6 bought or addedQ4 23: 7 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q2 2023191
Q3 202347
Q4 202367

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$200k$400k$600kQ1 23 calls: $0Q1 23 puts: $0Q1 23P/C —Q2 23 calls: $572.8kQ2 23 puts: $0Q2 23P/C 0.00Q3 23 calls: $401.1kQ3 23 puts: $0Q3 23P/C 0.00Q4 23 calls: $346.7kQ4 23 puts: $0Q4 23P/C 0.00
Numbers
QuarterCallsPutsP/C
Q1 2023$0$0—
Q2 2023$572.8k$00.00
Q3 2023$401.1k$00.00
Q4 2023$346.7k$00.00

Biggest buyers

TYNDALL CAPITAL PARTNERS L P Added +16,717+16.7k
UBS Group AG Added +1,952+2.0k
MORGAN STANLEY Added +573+573
Artal Group S.A. Added +552+552
GEODE CAPITAL MANAGEMENT, LLC Added +510+510
WELLS FARGO & COMPANY/MN Added +1+1

Biggest sellers

VANGUARD GROUP INC Reduced -17,041-17.0k
ACADIAN ASSET MANAGEMENT LLC Sold out -2,236-2.2k
FMR LLC Reduced -1,700-1.7k
BlackRock Inc. Reduced -831-831
ROYAL BANK OF CANADA Reduced -582-582
RHUMBLINE ADVISERS Sold out -1-1
OSAIC HOLDINGS, INC. Reduced -1-1

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Unchanged $286.8k85.6k shares
GROUP ONE TRADING LLC Unchanged $60.0k17.9k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Hecht Peter M 13D · may seek influence -8.5 pts · filed 2026-07-20 19.4% -8.5 pts 910.2k≈ $3.1m 2026-07-20
FMR LLC 13G · institution +14.8 pts · filed 2026-05-07 15.0% +14.8 pts 649.5k≈ $2.2m 2026-05-07
BALYASNY ASSET MANAGEMENT L.P. 13G · institution new · filed 2026-08-14 7.3% new 317.5k≈ $1.1m 2026-08-14
ADAR1 Capital Management, LLC 13G · institution new · filed 2026-08-14 7.0% new 298.8k≈ $1.0m 2026-08-14
J. WOOD CAPITAL ADVISORS LLC 13G · passive investor new · filed 2025-10-17 5.4% new 181.8k≈ $616.4k 2025-10-17

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Slate Path Capital LP 0.03% of their portfolio New York, NY 357,880357.9k $1.2m $1.2m 0.03% Unchanged
2 MFN Partners Management, LP 0.02% of their portfolio BOSTON, MA 169,460169.5k $567.7k $567.7k 0.02% Unchanged
3 TYNDALL CAPITAL PARTNERS L P 100.00% of their portfolio NEW YORK, NY 164,429164.4k $550.8k $550.8k 100.00% Added +16.7k +16,717
4 FMR LLC 0.00% of their portfolio BOSTON, MA 162,849162.8k $545.5k $545.5k 0.00% Reduced -1.7k -1,700
5 Artal Group S.A. 0.02% of their portfolio LUXEMBOURG, N4 138,955139.0k $466.0k $466.0k 0.02% Added +552 +552
6 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 31,25931.3k $104.7k $104.7k 0.00% Added +510 +510
7 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 23,49023.5k $78.7k $78.7k 0.00% Reduced -17.0k -17,041
8 BlackRock Inc. 0.00% of their portfolio New York, NY 17,16917.2k $57.5k $57.5k 0.00% Reduced -831 -831
9 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,2282.2k $7.5k $7.5k 0.00% Added +2.0k +1,952
10 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,3961.4k $4.7k $4.7k 0.00% Added +573 +573
11 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 540540 $1.8k $1.8k 0.00% Unchanged
12 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 330330 $1.0k $1.0k 0.00% Reduced -582 -582
13 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 187187 $626 $626 0.00% Reduced -1 -1
14 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1515 $50 $50 0.00% Added +1 +1
15 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 11 $3 $3 0.00% Unchanged
16 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged