Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Sees Significant Decrease in Short Interest

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

Institutional Investors Weigh In On Unicycive Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC grew its stake in Unicycive Therapeutics by 566.8% during the third quarter. Virtu Financial LLC now owns 73,975 shares of the company’s stock valued at $30,000 after acquiring an additional 62,881 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Unicycive Therapeutics during the third quarter valued at about $29,000. Bleakley Financial Group LLC bought a new stake in shares of Unicycive Therapeutics in the third quarter worth about $33,000. Geode Capital Management LLC lifted its position in shares of 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, Acuta Capital Partners LLC bought a new position in Unicycive Therapeutics during the third quarter valued at approximately $807,000. Institutional investors own 40.42% of the company’s stock.

Unicycive Therapeutics Price Performance

Shares of UNCY opened at $0.56 on Friday. Unicycive Therapeutics has a 12-month low of $0.20 and a 12-month high of $1.82. The business’s 50 day moving average is $0.67 and its 200 day moving average is $0.52.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Unicycive Therapeutics in a report on Wednesday, January 29th. Benchmark reaffirmed a “speculative buy” rating and issued a $3.00 price objective on shares of Unicycive Therapeutics in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price 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.