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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the recipient 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 trading volume of 1,550,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On Unicycive Therapeutics

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

Analyst Upgrades and Downgrades

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

Unicycive Therapeutics Stock Up 6.0 %

Shares of UNCY stock traded up $0.04 during mid-day trading on Friday, reaching $0.62. 590,864 shares of the stock traded hands, compared to its average volume of 1,102,055. The company has a market cap of $63.84 million, a price-to-earnings ratio of -0.63 and a beta of 2.30. The stock’s fifty day simple moving average is $0.69 and its two-hundred day simple moving average is $0.51. Unicycive Therapeutics has a 1-year low of $0.20 and a 1-year high of $1.82.

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.