Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Short Interest Up 25.4% in January

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 1,240,000 shares, an increase of 25.4% from the December 31st total of 989,200 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is currently 0.8 days. Approximately 1.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Unicycive Therapeutics in a research note on Wednesday. Benchmark reaffirmed a “speculative buy” rating and set a $3.00 price target on shares of Unicycive Therapeutics in a report on Friday, November 22nd. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Unicycive Therapeutics presently has an average rating of “Buy” and an average price target of $5.50.

Institutional Investors Weigh In On Unicycive Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of UNCY. Great Point Partners LLC purchased a new stake in shares of Unicycive Therapeutics in the third quarter worth about $3,491,000. Walleye Capital LLC bought a new stake in Unicycive Therapeutics in the 3rd quarter worth approximately $2,040,000. Acuta Capital Partners LLC purchased a new stake in shares of Unicycive Therapeutics during the 3rd quarter worth approximately $807,000. Bleakley Financial Group LLC bought a new position in shares of Unicycive Therapeutics during the 3rd quarter valued at approximately $33,000. Finally, Virtu Financial LLC grew its holdings in shares of Unicycive Therapeutics by 566.8% in the third quarter. Virtu Financial LLC now owns 73,975 shares of the company’s stock valued at $30,000 after purchasing an additional 62,881 shares in the last quarter. Institutional investors own 40.42% of the company’s stock.

Unicycive Therapeutics Trading Up 5.8 %

UNCY traded up $0.03 on Friday, hitting $0.61. 1,420,934 shares of the company’s stock traded hands, compared to its average volume of 1,025,508. Unicycive Therapeutics has a one year low of $0.20 and a one year high of $1.82. The firm has a market cap of $63.71 million, a price-to-earnings ratio of -0.63 and a beta of 2.30. The company’s 50 day simple moving average is $0.69 and its 200-day simple moving average is $0.51.

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.