Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Short Interest Down 48.5% in September

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 384,900 shares, a decline of 48.5% from the August 31st total of 746,800 shares. Based on an average daily volume of 2,570,000 shares, the short-interest ratio is currently 0.1 days. Currently, 0.5% of the shares of the company are short sold.

Unicycive Therapeutics Price Performance

Shares of UNCY stock opened at $0.42 on Friday. The company has a market capitalization of $39.33 million, a P/E ratio of -0.35 and a beta of 2.34. The company’s 50-day simple moving average is $0.38 and its two-hundred day simple moving average is $0.76. Unicycive Therapeutics has a one year low of $0.20 and a one year high of $1.82.

Unicycive Therapeutics (NASDAQ:UNCY) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.08. On average, research analysts expect that Unicycive Therapeutics will post -0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on UNCY shares. Benchmark restated a “speculative buy” rating and issued a $3.00 price target on shares of Unicycive Therapeutics in a research note on Friday, September 6th. Brookline Capital Management upgraded shares of Unicycive Therapeutics to a “strong-buy” rating in a research note on Tuesday, July 9th. Finally, HC Wainwright reissued a “buy” rating and set a $2.50 price objective on shares of Unicycive Therapeutics in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Unicycive Therapeutics has a consensus rating of “Buy” and an average target price of $5.13.

Institutional Trading of Unicycive Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Unicycive Therapeutics during the first quarter valued at about $36,000. Rosalind Advisors Inc. acquired a new stake in shares of Unicycive Therapeutics in the first quarter worth $2,594,000. Finally, BVF Inc. IL lifted its holdings in shares of Unicycive Therapeutics by 70.5% in the 1st quarter. BVF Inc. IL now owns 3,611,601 shares of the company’s stock valued at $4,984,000 after buying an additional 1,493,462 shares during the period. Hedge funds and other institutional investors own 40.42% of the company’s stock.

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.