Short Interest in Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Rises By 25.4%

Unicycive Therapeutics, Inc. (NASDAQ:UNCY - Get Free Report) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,240,000 shares, a growth of 25.4% from the December 31st total of 989,200 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average trading volume of 1,550,000 shares, the days-to-cover ratio is presently 0.8 days.

Unicycive Therapeutics Price Performance

Shares of NASDAQ:UNCY traded up $0.00 during trading on Tuesday, hitting $0.60. 767,031 shares of the company's stock were exchanged, compared to its average volume of 1,131,498. The business's 50-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 company has a market cap of $62.41 million, a price-to-earnings ratio of -0.62 and a beta of 2.24.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UNCY. Benchmark restated a "speculative buy" rating and issued a $3.00 price target on shares of Unicycive Therapeutics in a research report on Friday, November 22nd. HC Wainwright reissued a "buy" rating and issued a $4.00 target price on shares of Unicycive Therapeutics in a report on Wednesday, January 29th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Unicycive Therapeutics has a consensus rating of "Buy" and an average target price of $5.50.

Institutional Investors Weigh In On Unicycive Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in Unicycive Therapeutics in the 3rd quarter valued at $29,000. Virtu Financial LLC increased 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. Bleakley Financial Group LLC purchased a new stake in shares of Unicycive Therapeutics in the third quarter worth about $33,000. Acuta Capital Partners LLC bought a new position in Unicycive Therapeutics during the third quarter valued at approximately $807,000. Finally, Walleye Capital LLC purchased a new position in Unicycive Therapeutics during the 3rd quarter valued at approximately $2,040,000. Institutional investors own 40.42% of the company's stock.

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.