Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Short Interest Update

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 823,300 shares, a drop of 51.6% from the January 15th total of 1,700,000 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 1,410,000 shares, the days-to-cover ratio is currently 0.6 days.

Analyst Ratings Changes

A number of research analysts have recently weighed in on UNCY shares. Benchmark restated a “speculative buy” rating and set a $3.00 price target on shares of Unicycive Therapeutics in a report on Friday, November 22nd. HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Unicycive Therapeutics in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Unicycive Therapeutics has a consensus rating of “Buy” and an average price target of $5.50.

Unicycive Therapeutics Trading Down 1.2 %

UNCY traded down $0.01 during trading on Thursday, hitting $0.53. The stock had a trading volume of 381,362 shares, compared to its average volume of 1,073,709. The company has a 50 day simple moving average of $0.67 and a 200-day simple moving average of $0.52. Unicycive Therapeutics has a 12 month low of $0.20 and a 12 month high of $1.82. The firm has a market cap of $54.50 million, a PE ratio of -0.54 and a beta of 2.24.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in UNCY. Great Point Partners LLC bought a new position in shares of Unicycive Therapeutics during the 3rd quarter worth about $3,491,000. Walleye Capital LLC bought a new position in shares of Unicycive Therapeutics during the 3rd quarter worth about $2,040,000. Acuta Capital Partners LLC bought a new position in shares of Unicycive Therapeutics during the 3rd quarter worth about $807,000. Geode Capital Management LLC increased its holdings in shares of Unicycive Therapeutics by 30.3% during the 4th quarter. Geode Capital Management LLC now owns 524,487 shares of the company’s stock worth $417,000 after purchasing an additional 122,089 shares during the period. Finally, Bleakley Financial Group LLC bought a new position in shares of Unicycive Therapeutics during the 3rd quarter worth about $33,000. Institutional investors own 40.42% of the company’s stock.

Unicycive Therapeutics Company Profile

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.