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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 256,800 shares, a growth of 352.9% from the March 15th total of 56,700 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 357,100 shares, the short-interest ratio is currently 0.7 days.

Analyst Ratings Changes

Several equities research analysts have issued reports on UNCY shares. HC Wainwright reaffirmed a “buy” rating and set a $4.50 price target on shares of Unicycive Therapeutics in a research note on Monday, April 1st. Piper Sandler began coverage on Unicycive Therapeutics in a research note on Thursday, April 4th. They issued an “overweight” rating and a $9.00 target price for the company. Finally, Noble Financial began coverage on Unicycive Therapeutics in a report on Wednesday, February 14th. They set an “outperform” rating and a $6.00 price target on the stock.

Unicycive Therapeutics Stock Down 1.5 %

Shares of Unicycive Therapeutics stock opened at $1.30 on Thursday. The stock’s 50-day simple moving average is $1.38 and its 200-day simple moving average is $0.95. Unicycive Therapeutics has a 52 week low of $0.47 and a 52 week high of $2.24. The company has a market capitalization of $45.19 million, a price-to-earnings ratio of -0.84 and a beta of 2.66.

Unicycive Therapeutics (NASDAQ:UNCY) last issued its quarterly earnings data on Thursday, March 28th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. On average, equities analysts expect that Unicycive Therapeutics will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ground Swell Capital LLC purchased a new position in Unicycive Therapeutics in the 2nd quarter worth $26,000. Citadel Advisors LLC acquired a new stake in Unicycive Therapeutics during the 4th quarter worth about $31,000. Two Sigma Advisers LP acquired a new stake in Unicycive Therapeutics during the 1st quarter worth about $31,000. State Street Corp acquired a new stake in shares of Unicycive Therapeutics during the 1st quarter valued at about $74,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Unicycive Therapeutics during the 2nd quarter valued at about $123,000. 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.