Short Interest in Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Drops By 59.4%

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 746,800 shares, a drop of 59.4% from the August 15th total of 1,840,000 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average trading volume of 2,360,000 shares, the short-interest ratio is currently 0.3 days.

Unicycive Therapeutics Trading Up 3.9 %

UNCY traded up $0.02 during trading on Friday, reaching $0.40. 474,314 shares of the company’s stock were exchanged, compared to its average volume of 1,978,510. The firm has a fifty day moving average price of $0.39 and a two-hundred day moving average price of $0.84. Unicycive Therapeutics has a one year low of $0.20 and a one year high of $1.82.

Unicycive Therapeutics (NASDAQ:UNCY) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.08. As a group, research analysts predict that Unicycive Therapeutics will post -0.26 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on UNCY shares. Brookline Capital Management upgraded shares of Unicycive Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 9th. HC Wainwright reissued a “buy” rating and set a $2.50 target price on shares of Unicycive Therapeutics in a research note on Tuesday, September 3rd. Finally, 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. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $5.13.

Hedge Funds Weigh In On Unicycive Therapeutics

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

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.