Short Interest in Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Drops By 33.6%

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 837,200 shares, a drop of 33.6% from the November 15th total of 1,260,000 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,610,000 shares, the days-to-cover ratio is presently 0.5 days.

Unicycive Therapeutics Trading Down 2.8 %

Shares of NASDAQ:UNCY traded down $0.02 during midday trading on Friday, hitting $0.72. 482,654 shares of the stock were exchanged, compared to its average volume of 1,245,784. The stock has a market cap of $74.69 million, a P/E ratio of -0.76 and a beta of 2.36. The company has a 50 day moving average price of $0.53 and a 200-day moving average price of $0.50. Unicycive Therapeutics has a twelve month low of $0.20 and a twelve month high of $1.82.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of UNCY. Great Point Partners LLC acquired a new position in shares of Unicycive Therapeutics in the third quarter worth $3,491,000. Walleye Capital LLC acquired a new position in Unicycive Therapeutics in the 3rd quarter valued at about $2,040,000. Acuta Capital Partners LLC acquired a new position in Unicycive Therapeutics in the 3rd quarter valued at about $807,000. Bleakley Financial Group LLC acquired a new position in Unicycive Therapeutics in the 3rd quarter valued at about $33,000. Finally, XTX Topco Ltd acquired a new position in shares of Unicycive Therapeutics in the third quarter valued at approximately $29,000. 40.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Benchmark reissued a “speculative buy” rating and issued a $3.00 target price on shares of Unicycive Therapeutics in a report on Friday, November 22nd. HC Wainwright reissued a “buy” rating and set a $2.50 price objective on shares of Unicycive Therapeutics in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Unicycive Therapeutics has a consensus rating of “Buy” and a consensus target price of $5.13.

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.