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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) saw a large growth in short interest in 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 short-interest ratio is presently 0.8 days. Currently, 1.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in UNCY. Bleakley Financial Group LLC bought a new position in shares of Unicycive Therapeutics in the 3rd quarter valued at $33,000. Great Point Partners LLC bought a new position in shares of Unicycive Therapeutics during the third quarter worth about $3,491,000. Acuta Capital Partners LLC bought a new stake in shares of Unicycive Therapeutics in the 3rd quarter valued at $807,000. Walleye Capital LLC acquired a new stake in Unicycive Therapeutics during the 3rd quarter worth about $2,040,000. Finally, XTX Topco Ltd acquired a new position in Unicycive Therapeutics in the third quarter valued at approximately $29,000. 40.42% of the stock is owned by institutional investors.

Unicycive Therapeutics Price Performance

NASDAQ UNCY opened at $0.61 on Friday. The stock has a 50 day moving average of $0.67 and a 200-day moving average of $0.50. Unicycive Therapeutics has a 12 month low of $0.20 and a 12 month high of $1.82.

Wall Street Analysts Forecast Growth

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