Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Sees Large Increase in Short Interest

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

Institutional Inflows and Outflows

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

Unicycive Therapeutics Price Performance

Shares of UNCY traded up $0.01 during mid-day trading on Friday, reaching $0.62. The company had a trading volume of 585,565 shares, compared to its average volume of 1,082,285. The company’s 50-day moving average is $0.67 and its 200-day moving average is $0.50. The company has a market capitalization of $64.36 million, a P/E ratio of -0.64 and a beta of 2.30. Unicycive Therapeutics has a twelve month low of $0.20 and a twelve month high of $1.82.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Unicycive Therapeutics in a report on Wednesday, January 8th. Benchmark reiterated a “speculative buy” rating and set a $3.00 price target on shares of Unicycive Therapeutics in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $5.50.

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.