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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 823,300 shares, a drop of 51.6% from the January 15th total of 1,700,000 shares. Based on an average daily volume of 1,410,000 shares, the short-interest ratio is currently 0.6 days. Approximately 0.9% of the company’s shares are short sold.

Unicycive Therapeutics Price Performance

Shares of UNCY stock opened at $0.56 on Friday. The stock has a 50 day moving average price of $0.67 and a 200 day moving average price of $0.52. Unicycive Therapeutics has a 52-week low of $0.20 and a 52-week high of $1.82.

Institutional Trading of Unicycive Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in UNCY. Great Point Partners LLC purchased a new stake in shares of Unicycive Therapeutics in the third quarter valued at approximately $3,491,000. Walleye Capital LLC purchased a new stake in shares of Unicycive Therapeutics in the 3rd quarter worth approximately $2,040,000. Acuta Capital Partners LLC bought a new position in shares of Unicycive Therapeutics during the third quarter valued at approximately $807,000. Geode Capital Management LLC raised its stake in Unicycive Therapeutics by 30.3% in the fourth quarter. Geode Capital Management LLC now owns 524,487 shares of the company’s stock worth $417,000 after buying an additional 122,089 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in Unicycive Therapeutics by 142.2% during the fourth quarter. XTX Topco Ltd now owns 171,463 shares of the company’s stock worth $136,000 after buying an additional 100,679 shares during the period. 40.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

UNCY has been the topic of several analyst reports. Benchmark reissued a “speculative buy” rating and set a $3.00 target price on shares of Unicycive Therapeutics in a research 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 research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average 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.