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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,400,000 shares, a growth of 76.1% from the February 13th total of 795,200 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is presently 1.3 days.

Unicycive Therapeutics Stock Up 0.5 %

NASDAQ:UNCY traded up $0.00 during midday trading on Friday, hitting $0.59. The company had a trading volume of 267,178 shares, compared to its average volume of 969,473. Unicycive Therapeutics has a 52-week low of $0.20 and a 52-week high of $1.60. The stock’s fifty day moving average price is $0.60 and its 200-day moving average price is $0.55. The company has a market capitalization of $60.72 million, a PE ratio of -0.60 and a beta of 2.26.

Analysts Set New Price Targets

Several research analysts have recently weighed in on UNCY shares. Benchmark reaffirmed a “speculative buy” rating and issued a $3.00 price target on shares of Unicycive Therapeutics in a report on Friday, November 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price target on shares of Unicycive Therapeutics in a report on Wednesday, January 29th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its position in Unicycive Therapeutics by 142.4% in the fourth quarter. Northern Trust Corp now owns 58,181 shares of the company’s stock worth $46,000 after acquiring an additional 34,183 shares in the last quarter. Virtu Financial LLC boosted its position in Unicycive Therapeutics by 566.8% during the third quarter. Virtu Financial LLC now owns 73,975 shares of the company’s stock valued at $30,000 after buying an additional 62,881 shares during the period. XTX Topco Ltd purchased a new stake in Unicycive Therapeutics during the third quarter valued at about $29,000. Geode Capital Management LLC boosted its position in Unicycive Therapeutics by 30.3% during 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 during the period. Finally, Acuta Capital Partners LLC boosted its position in Unicycive Therapeutics by 16.4% during the fourth quarter. Acuta Capital Partners LLC now owns 2,303,000 shares of the company’s stock valued at $1,829,000 after buying an additional 323,801 shares during the period. 40.42% of the stock is currently owned by hedge funds and other institutional investors.

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.