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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 823,300 shares, a decline of 51.6% from the January 15th total of 1,700,000 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 1,410,000 shares, the short-interest ratio is currently 0.6 days.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on UNCY shares. Benchmark reiterated a “speculative buy” rating and set a $3.00 target price on shares of Unicycive Therapeutics in a research report on Friday, November 22nd. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Unicycive Therapeutics in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $5.50.

Hedge Funds Weigh In On Unicycive Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UNCY. Great Point Partners LLC acquired a new position in Unicycive Therapeutics in the third quarter valued at about $3,491,000. Walleye Capital LLC acquired a new position in Unicycive Therapeutics in the third quarter valued at about $2,040,000. Acuta Capital Partners LLC acquired a new position in Unicycive Therapeutics in the third quarter valued at about $807,000. Geode Capital Management LLC boosted its position in Unicycive Therapeutics by 30.3% in the fourth quarter. Geode Capital Management LLC now owns 524,487 shares of the company’s stock valued at $417,000 after buying an additional 122,089 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new position in shares of Unicycive Therapeutics in the third quarter worth about $33,000. 40.42% of the stock is currently owned by institutional investors and hedge funds.

Unicycive Therapeutics Stock Down 1.2 %

NASDAQ:UNCY traded down $0.01 on Thursday, reaching $0.53. The stock had a trading volume of 381,362 shares, compared to its average volume of 1,073,709. The company has a market capitalization of $54.50 million, a P/E ratio of -0.54 and a beta of 2.24. Unicycive Therapeutics has a 1-year low of $0.20 and a 1-year high of $1.82. The stock has a fifty day moving average price of $0.67 and a 200-day moving average price of $0.52.

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.