Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Sees Significant Growth in Short Interest

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,950,000 shares, an increase of 32.7% from the June 30th total of 1,470,000 shares. Based on an average daily trading volume, of 997,700 shares, the short-interest ratio is presently 2.0 days. Approximately 3.1% of the company’s stock are sold short.

Unicycive Therapeutics Price Performance

NASDAQ UNCY traded down $0.03 during trading hours on Monday, hitting $0.43. The company’s stock had a trading volume of 2,264,749 shares, compared to its average volume of 690,146. Unicycive Therapeutics has a 52 week low of $0.34 and a 52 week high of $1.82. The company’s 50-day simple moving average is $0.63 and its two-hundred day simple moving average is $1.01.

Unicycive Therapeutics (NASDAQ:UNCY) last posted its earnings results on Monday, May 13th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.09). As a group, research analysts anticipate that Unicycive Therapeutics will post -0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Unicycive Therapeutics

Several hedge funds have recently modified their holdings of UNCY. Virtu Financial LLC bought a new stake in shares of Unicycive Therapeutics in the 1st quarter worth approximately $36,000. Rosalind Advisors Inc. bought a new stake in shares of Unicycive Therapeutics in the 1st quarter worth approximately $2,594,000. Finally, BVF Inc. IL raised its holdings in shares of Unicycive Therapeutics by 70.5% in the 1st quarter. BVF Inc. IL now owns 3,611,601 shares of the company’s stock worth $4,984,000 after purchasing an additional 1,493,462 shares during the period. Institutional investors own 40.42% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on UNCY. Piper Sandler began coverage on Unicycive Therapeutics in a research note on Thursday, April 4th. They issued an “overweight” rating and a $9.00 target price for the company. Brookline Capital Management upgraded Unicycive Therapeutics to a “strong-buy” rating in a research note on Tuesday, July 9th. Benchmark restated a “speculative buy” rating and issued a $3.00 target price on shares of Unicycive Therapeutics in a research note on Friday, May 31st. Finally, HC Wainwright restated a “buy” rating and issued a $4.50 target price on shares of Unicycive Therapeutics in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Unicycive Therapeutics presently has an average rating of “Buy” and a consensus target price of $5.63.

About Unicycive Therapeutics

Unicycive Therapeutics, Inc, a biotechnology company, engages in developing novel therapies for kidney diseases in the United States. It is developing Renazorb for treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis; and UNI 494, which is in Phase 1 clinical trials for treatment of acute kidney injury.