Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Short Interest Up 25.4% in December

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

Analyst Ratings Changes

UNCY has been the topic of a number of recent research reports. Benchmark restated a “speculative buy” rating and set a $3.00 price objective on shares of Unicycive Therapeutics in a research report on Friday, November 22nd. HC Wainwright restated a “buy” rating and set a $4.00 price target on shares of Unicycive Therapeutics in a report on Wednesday, January 8th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $5.50.

Hedge Funds Weigh In On Unicycive Therapeutics

Large investors have recently bought and sold shares of the business. Great Point Partners LLC purchased a new stake in Unicycive Therapeutics in the third quarter worth $3,491,000. Walleye Capital LLC purchased a new stake in shares of Unicycive Therapeutics during the third quarter valued at $2,040,000. Acuta Capital Partners LLC bought a new position in shares of Unicycive Therapeutics in the third quarter worth about $807,000. Bleakley Financial Group LLC purchased a new position in Unicycive Therapeutics in the 3rd quarter worth about $33,000. Finally, XTX Topco Ltd bought a new stake in Unicycive Therapeutics during the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 40.42% of the company’s stock.

Unicycive Therapeutics Price Performance

Shares of NASDAQ:UNCY traded down $0.03 during trading hours on Thursday, hitting $0.64. 57,008 shares of the company’s stock traded hands, compared to its average volume of 1,324,757. The firm has a market capitalization of $66.69 million, a P/E ratio of -0.66 and a beta of 2.30. The business has a fifty day moving average price of $0.66 and a 200-day moving average price of $0.50. Unicycive Therapeutics has a 1 year low of $0.20 and a 1 year 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.