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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY – Get Rating) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 134,900 shares, an increase of 185.8% from the March 15th total of 47,200 shares. Based on an average daily trading volume, of 149,800 shares, the short-interest ratio is currently 0.9 days. Approximately 1.5% of the shares of the company are sold short.

NASDAQ UNCY opened at $1.02 on Thursday. Unicycive Therapeutics has a 1-year low of $0.87 and a 1-year high of $8.73. The business has a 50 day moving average price of $1.30 and a 200 day moving average price of $1.95.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Unicycive Therapeutics during the third quarter worth $33,000. Tandem Capital Management Corp ADV purchased a new position in Unicycive Therapeutics during the third quarter worth $44,000. Two Sigma Investments LP purchased a new position in Unicycive Therapeutics during the third quarter worth $72,000. Geode Capital Management LLC purchased a new position in Unicycive Therapeutics during the third quarter worth $73,000. Finally, Board of Trustees of The Leland Stanford Junior University purchased a new position in Unicycive Therapeutics during the third quarter worth $700,000. 13.46% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently weighed in on UNCY. Zacks Investment Research downgraded Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday. Maxim Group began coverage on Unicycive Therapeutics in a research note on Wednesday, March 16th. They issued a “buy” rating and a $3.00 price objective for the company.

Unicycive Therapeutics Company Profile (Get Rating)

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; and UNI 494, for treatment of acute kidney injury. The company was incorporated in 2016 and is based in Los Altos, California.

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