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

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

Unicycive Therapeutics Stock Performance

Shares of Unicycive Therapeutics stock traded down $0.06 during midday trading on Thursday, reaching $0.61. 1,266,433 shares of the company's stock traded hands, compared to its average volume of 1,446,363. Unicycive Therapeutics has a 52 week low of $0.20 and a 52 week high of $1.82. The company's 50 day simple moving average is $0.67 and its 200 day simple moving average is $0.50. The company has a market cap of $63.73 million, a price-to-earnings ratio of -0.63 and a beta of 2.30.

Hedge Funds Weigh In On Unicycive Therapeutics

Several institutional investors have recently bought and sold shares of UNCY. Great Point Partners LLC acquired a new position in shares of Unicycive Therapeutics during the 3rd quarter valued at about $3,491,000. Walleye Capital LLC bought a new stake in Unicycive Therapeutics during the third quarter worth approximately $2,040,000. Acuta Capital Partners LLC acquired a new position in Unicycive Therapeutics during the third quarter valued at approximately $807,000. Bleakley Financial Group LLC bought a new position in shares of Unicycive Therapeutics in the third quarter valued at approximately $33,000. Finally, Virtu Financial LLC lifted its stake 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 buying an additional 62,881 shares during the last quarter. 40.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

UNCY has been the topic of a number of research reports. HC Wainwright reaffirmed a "buy" rating and issued a $4.00 price target on shares of Unicycive Therapeutics in a research note on Wednesday, January 8th. Benchmark reaffirmed 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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $5.50.

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.