Cyclerion Therapeutics (CYCN): Balyasny group discloses 7.33% equity position

Rhea-AI Filing Summary

Balyasny Asset Management L.P. and related entities report beneficial ownership of common stock of Cyclerion Therapeutics, Inc. The group, including BAM GP LLC, Balyasny Asset Management Holdings LP, Dames GP LLC, and Dmitry Balyasny, is deemed to beneficially own 317,511 shares of Cyclerion common stock.

This position represents approximately 7.33% of the class, based on 4,330,314 shares outstanding as of May 10, 2026. The reporting persons have sole voting and sole dispositive power over 317,511 shares and no shared voting or dispositive power. The shares are held directly by Atlas Diversified Master Fund, Ltd., a Cayman Islands exempted company that is an investment management client of BAM and is entitled to dividends and sale proceeds.

Key Figures

Shares beneficially owned: 317,511 shares Ownership percentage: 7.33% Shares outstanding: 4,330,314 shares +2 more

5 metrics

Shares beneficially owned 317,511 shares Common stock of Cyclerion beneficially owned by the reporting persons

Ownership percentage 7.33% Percent of Cyclerion common stock class beneficially owned by the reporting persons

Shares outstanding 4,330,314 shares Cyclerion common stock outstanding as of May 10, 2026, used for ownership calculation

Sole voting power 317,511 shares Shares over which the reporting persons have sole power to vote or direct the vote

Sole dispositive power 317,511 shares Shares over which the reporting persons have sole power to dispose or direct disposition

Key Terms

beneficially own, sole voting power, sole dispositive power, investment manager, +1 more

5 terms

beneficially own financial

"thus may be deemed to beneficially own such Shares"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

sole voting power financial

"Each of the Reporting Persons has the sole power to vote"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"sole power to dispose or to direct the disposition of 317511 shares"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

investment manager financial

"by virtue of its position as the investment manager of Atlas Diversified Master Fund, Ltd."

percent of class financial

"Each of the Reporting Persons may be deemed to be the beneficial owner of approximately 7.33% of the Shares"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

FAQ

What percentage of Cyclerion Therapeutics (CYCN) does Balyasny Asset Management report owning?

Balyasny Asset Management and related entities report beneficial ownership of approximately 7.33% of Cyclerion’s common stock. This percentage is based on 4,330,314 shares outstanding as of May 10, 2026, as reported by Cyclerion.

How many Cyclerion Therapeutics (CYCN) shares are beneficially owned by the Balyasny reporting group?

The reporting group is deemed to beneficially own 317,511 shares of Cyclerion common stock. These shares are held directly by Atlas Diversified Master Fund, Ltd., over which Balyasny Asset Management exercises investment management authority.

Does Balyasny Asset Management have sole or shared voting power over its CYCN stake?

The reporting persons have sole voting power over 317,511 shares of Cyclerion and no shared voting power. They also have sole dispositive power over the same number of shares, indicating exclusive authority over voting and disposition.

Who directly holds the Cyclerion (CYCN) shares reported by Balyasny Asset Management?

The 317,511 shares are held directly by Atlas Diversified Master Fund, Ltd., a Cayman Islands exempted company. Atlas is an investment management client of Balyasny Asset Management and has the right to receive dividends and sale proceeds from the shares.

Which entities are included as reporting persons in the Cyclerion (CYCN) Schedule 13G?

The reporting persons are Balyasny Asset Management L.P., BAM GP LLC, Balyasny Asset Management Holdings LP, Dames GP LLC, and Dmitry Balyasny. Their control relationships cause each to be deemed a beneficial owner of the same 317,511 shares.

What is the basis for the ownership calculation in Balyasny’s Cyclerion (CYCN) filing?

The ownership percentage is calculated using 4,330,314 shares of Cyclerion common stock outstanding as of May 10, 2026. This outstanding share figure comes from Cyclerion’s Form 10-Q filed on May 12, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/14/2026 - 06:09 AM Accepted by SEC EDGAR 08/14/2026 - 06:02 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

CYCLERION THERAPEUTICS, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

23255M204

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 23255M204

1

Names of Reporting Persons

BALYASNY ASSET MANAGEMENT L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 317,511.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 317,511.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

317,511.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.33 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): 23255M204

1

Names of Reporting Persons

BAM GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 317,511.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 317,511.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

317,511.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.33 %

12

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13G

CUSIP Number(s): 23255M204

1

Names of Reporting Persons

Balyasny Asset Management Holdings LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 317,511.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 317,511.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

317,511.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.33 %

12

Type of Reporting Person (See Instructions)

HC, PN

SCHEDULE 13G

CUSIP Number(s): 23255M204

1

Names of Reporting Persons

Dames GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 317,511.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 317,511.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

317,511.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.33 %

12

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13G

CUSIP Number(s): 23255M204

1

Names of Reporting Persons

Dmitry Balyasny

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 317,511.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 317,511.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

317,511.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.33 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CYCLERION THERAPEUTICS, INC.
(b)	Address of issuer's principal executive offices: 245 First Street, 18th Floor, Cambridge, Massachusetts, 02142
Item 2.
(a)	Name of person filing: This statement is being filed by (1) Balyasny Asset Management L.P., a Delaware limited partnership ("BAM"), (2) BAM GP LLC, a Delaware limited liability company ("BAM GP"), (3) Balyasny Asset Management Holdings LP, a Delaware limited partnership ("BAM Holdings"), (4) Dames GP LLC, a Delaware limited liability company ("Dames"), and (5) Dmitry Balyasny, a United States citizen (collectively, the "Reporting Persons"). BAM GP is the General Partner of BAM. BAM Holdings is the Sole Member of BAM GP. Dames is the General Partner of BAM Holdings. Dmitry Balyasny is the Managing Member of Dames.
(b)	Address or principal business office or, if none, residence: The principal business address of each of BAM, BAM GP, BAM Holdings, Dames, and Mr. Balyasny is located at 444 West Lake Street, 50th Floor, Chicago, IL 60606.
(c)	Citizenship: (1) BAM is a Delaware limited partnership, (2) BAM GP is a Delaware limited liability company, (3) BAM Holdings is a Delaware limited partnership, (4) Dames is a Delaware limited liability company, and (5) Mr. Balyasny is a United States citizen.
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 23255M204
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: By virtue of its position as the investment manager of Atlas Diversified Master Fund, Ltd. ("ADMF"), the direct holder of 317,511 shares of common stock, no par value ("Shares"), reported herein, BAM may be deemed to exercise voting and investment power over such Shares held by ADMF and thus may be deemed to beneficially own such Shares. By virtue of its position as the General Partner of BAM, BAM GP may be deemed to exercise voting and investment power over the Shares held directly by ADMF and thus may be deemed to beneficially own such Shares. By virtue of its position as the Sole Member of BAM GP, BAM Holdings may be deemed to exercise voting and investment power over the Shares held directly by ADMF and thus may be deemed to beneficially own such Shares. By virtue of its position as the General Partner of BAM Holdings, Dames may be deemed to exercise voting and investment power over the Shares held directly by ADMF and thus may be deemed to beneficially own such Shares. By virtue of his position as the Managing Member of Dames, Mr. Balyasny may be deemed to exercise voting and investment power over the Shares held directly by ADMF and thus may be deemed to beneficially own such Shares.
(b)	Percent of class: Each of the Reporting Persons may be deemed to be the beneficial owner of approximately 7.33% of the Shares, based on 4,330,314 Shares of common stock outstanding as of May 10, 2026 as reported in the Issuer's 10-Q filed with the Securities and Exchange Commission on May 12, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Each of the Reporting Persons has the sole power to vote or to direct the vote of 317511 shares.
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: Each of the Reporting Persons has the sole power to dispose or to direct the disposition of 317511 shares.
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. ADMF is a Cayman Islands exempted company that is an investment management client of BAM, and has the right to receive dividends from, or the proceeds from the sale of, the reported securities.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BALYASNY ASSET MANAGEMENT L.P.

Signature:	/s/ Scott Schroeder
Name/Title:	Scott Schroeder / Authorized Signatory
Date:	08/14/2026

BAM GP LLC

Signature:	/s/ Scott Schroeder
Name/Title:	Scott Schroeder / Authorized Signatory
Date:	08/14/2026

Balyasny Asset Management Holdings LP

Signature:	/s/ Scott Schroeder
Name/Title:	Scott Schroeder / Authorized Signatory
Date:	08/14/2026

Dames GP LLC

Signature:	/s/ Scott Schroeder
Name/Title:	Scott Schroeder / Authorized Signatory
Date:	08/14/2026

Dmitry Balyasny

Signature:	/s/ Dmitry Balyasny
Name/Title:	Dmitry Balyasny / Self
Date:	08/14/2026