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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) saw a large growth in short interest in 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. Approximately 1.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Walleye Capital LLC bought a new stake in Unicycive Therapeutics during the 3rd quarter worth $2,040,000. Great Point Partners LLC bought a new position in Unicycive Therapeutics in the 3rd quarter valued at approximately $3,491,000. Acuta Capital Partners LLC acquired a new stake in Unicycive Therapeutics during the 3rd quarter worth approximately $807,000. Virtu Financial LLC grew its holdings in Unicycive Therapeutics by 566.8% during the 3rd quarter. Virtu Financial LLC now owns 73,975 shares of the company’s stock worth $30,000 after acquiring an additional 62,881 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in Unicycive Therapeutics in the 3rd quarter valued at approximately $33,000. 40.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Unicycive Therapeutics in a report on Wednesday. Benchmark reaffirmed a “speculative buy” rating and issued a $3.00 target price on shares of Unicycive Therapeutics in a 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $5.50.

Unicycive Therapeutics Trading Up 6.0 %

NASDAQ:UNCY traded up $0.04 on Friday, hitting $0.62. The company had a trading volume of 1,023,347 shares, compared to its average volume of 1,127,472. Unicycive Therapeutics has a 52 week low of $0.20 and a 52 week high of $1.82. The stock has a market capitalization of $63.84 million, a price-to-earnings ratio of -0.63 and a beta of 2.30. The firm has a 50 day moving average of $0.69 and a two-hundred day moving average of $0.51.

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.