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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a significant increase in short interest in the month of 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. Currently, 1.4% of the company’s shares are sold short. Based on an average daily volume of 1,550,000 shares, the short-interest ratio is presently 0.8 days.

Analyst Ratings Changes

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

Institutional Trading of Unicycive Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC grew its holdings in shares of Unicycive Therapeutics by 566.8% in the third quarter. Virtu Financial LLC now owns 73,975 shares of the company’s stock worth $30,000 after purchasing an additional 62,881 shares during the last quarter. XTX Topco Ltd bought a new position in Unicycive Therapeutics in the 3rd quarter worth about $29,000. Walleye Capital LLC purchased a new position in shares of Unicycive Therapeutics during the third quarter worth approximately $2,040,000. Acuta Capital Partners LLC bought a new stake in shares of Unicycive Therapeutics during the third quarter valued at approximately $807,000. Finally, Great Point Partners LLC purchased a new stake in shares of Unicycive Therapeutics in the third quarter valued at approximately $3,491,000. 40.42% of the stock is currently owned by institutional investors.

Unicycive Therapeutics Trading Up 5.8 %

Shares of UNCY stock traded up $0.03 on Friday, reaching $0.61. 1,420,934 shares of the company’s stock were exchanged, compared to its average volume of 1,025,508. The company’s fifty day simple moving average is $0.69 and its 200 day simple moving average is $0.51. Unicycive Therapeutics has a 52 week low of $0.20 and a 52 week high of $1.82. The stock has a market capitalization of $63.71 million, a PE ratio of -0.63 and a beta of 2.30.

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.