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 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. Approximately 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 1,550,000 shares, the short-interest ratio is currently 0.8 days.

Analysts Set New Price Targets

A number of research firms have commented on UNCY. Benchmark reaffirmed a “speculative buy” rating and set a $3.00 target price on shares of Unicycive Therapeutics in a report on Friday, November 22nd. HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Unicycive Therapeutics in a report on Wednesday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $5.50.

Institutional Trading of Unicycive Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of UNCY. Virtu Financial LLC boosted its position in Unicycive Therapeutics by 566.8% during 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 period. XTX Topco Ltd bought a new stake in shares of Unicycive Therapeutics during the 3rd quarter worth about $29,000. Bleakley Financial Group LLC acquired a new position in Unicycive Therapeutics in the 3rd quarter valued at about $33,000. Acuta Capital Partners LLC bought a new position in Unicycive Therapeutics in the 3rd quarter valued at about $807,000. Finally, Walleye Capital LLC acquired a new stake in Unicycive Therapeutics during the third quarter worth approximately $2,040,000. Institutional investors own 40.42% of the company’s stock.

Unicycive Therapeutics Stock Up 6.0 %

Shares of UNCY stock traded up $0.04 on Friday, reaching $0.62. The stock had a trading volume of 1,023,347 shares, compared to its average volume of 1,127,472. Unicycive Therapeutics has a 12 month low of $0.20 and a 12 month high of $1.82. The firm has a market capitalization of $63.84 million, a price-to-earnings ratio of -0.63 and a beta of 2.30. The firm’s 50-day moving average is $0.69 and its two-hundred day moving average is $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.