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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY - Get Free Report) 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. Based on an average daily trading volume, of 1,410,000 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Octagon Capital Advisors LP lifted its holdings in Unicycive Therapeutics by 16.8% in the fourth quarter. Octagon Capital Advisors LP now owns 10,000,000 shares of the company's stock valued at $7,942,000 after buying an additional 1,441,000 shares during the period. Acuta Capital Partners LLC raised its position in shares of Unicycive Therapeutics by 16.4% during the fourth quarter. Acuta Capital Partners LLC now owns 2,303,000 shares of the company's stock worth $1,829,000 after purchasing an additional 323,801 shares during the period. Nantahala Capital Management LLC grew its position in shares of Unicycive Therapeutics by 268.5% in the 4th quarter. Nantahala Capital Management LLC now owns 10,391,994 shares of the company's stock valued at $8,253,000 after purchasing an additional 7,571,636 shares during the period. Northern Trust Corp increased its stake in Unicycive Therapeutics by 142.4% during the 4th quarter. Northern Trust Corp now owns 58,181 shares of the company's stock worth $46,000 after purchasing an additional 34,183 shares in the last quarter. Finally, Vivo Capital LLC lifted its stake in Unicycive Therapeutics by 123.0% in the fourth quarter. Vivo Capital LLC now owns 9,970,152 shares of the company's stock valued at $7,918,000 after buying an additional 5,500,000 shares in the last quarter. Institutional investors and hedge funds own 40.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on UNCY. HC Wainwright reiterated a "buy" rating and set a $4.00 price objective on shares of Unicycive Therapeutics in a research note on Wednesday, January 29th. Benchmark reissued a "speculative buy" rating and set a $3.00 price target on shares of Unicycive Therapeutics in a report on Friday, November 22nd.

Unicycive Therapeutics Stock Up 5.7 %

UNCY traded up $0.03 during trading on Monday, hitting $0.59. The company's stock had a trading volume of 744,433 shares, compared to its average volume of 955,472. The firm's 50 day moving average price is $0.67 and its two-hundred day moving average price is $0.52. The stock has a market capitalization of $61.46 million, a price-to-earnings ratio of -0.61 and a beta of 2.24. Unicycive Therapeutics has a 12 month low of $0.20 and a 12 month high of $1.82.

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.