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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 1,400,000 shares, an increase of 76.1% from the February 13th total of 795,200 shares. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.6% of the company’s stock are short sold.

Unicycive Therapeutics Trading Up 0.5 %

Shares of NASDAQ:UNCY traded up $0.00 during mid-day trading on Friday, reaching $0.59. The company had a trading volume of 267,178 shares, compared to its average volume of 969,473. The firm has a market cap of $60.72 million, a price-to-earnings ratio of -0.60 and a beta of 2.26. The company’s 50-day moving average price is $0.60 and its 200-day moving average price is $0.55. Unicycive Therapeutics has a one year low of $0.20 and a one year high of $1.60.

Analysts Set New Price Targets

Several brokerages recently weighed in on UNCY. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price target on shares of Unicycive Therapeutics in a research report on Wednesday, January 29th. Benchmark reissued a “speculative buy” rating and set a $3.00 target price on shares of Unicycive Therapeutics in a research report on Friday, November 22nd.

Institutional Investors Weigh In On Unicycive Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Octagon Capital Advisors LP raised its holdings in shares of Unicycive Therapeutics by 16.8% in the 4th quarter. Octagon Capital Advisors LP now owns 10,000,000 shares of the company’s stock worth $7,942,000 after purchasing an additional 1,441,000 shares during the period. Acuta Capital Partners LLC raised its holdings in Unicycive Therapeutics by 16.4% during the 4th quarter. Acuta Capital Partners LLC now owns 2,303,000 shares of the company’s stock valued at $1,829,000 after acquiring an additional 323,801 shares during the period. Nantahala Capital Management LLC raised its holdings in Unicycive Therapeutics by 268.5% during the 4th quarter. Nantahala Capital Management LLC now owns 10,391,994 shares of the company’s stock valued at $8,253,000 after acquiring an additional 7,571,636 shares during the period. Northern Trust Corp raised its holdings in Unicycive Therapeutics by 142.4% during the 4th quarter. Northern Trust Corp now owns 58,181 shares of the company’s stock valued at $46,000 after acquiring an additional 34,183 shares during the period. Finally, Vivo Capital LLC raised its holdings in Unicycive Therapeutics by 123.0% during the 4th quarter. Vivo Capital LLC now owns 9,970,152 shares of the company’s stock valued at $7,918,000 after acquiring an additional 5,500,000 shares during the period. Institutional investors own 40.42% of the company’s stock.

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.