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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 382,900 shares, a growth of 49.1% from the March 31st total of 256,800 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily volume of 383,000 shares, the days-to-cover ratio is currently 1.0 days.

Unicycive Therapeutics Trading Up 6.2 %

NASDAQ:UNCY opened at $1.03 on Monday. Unicycive Therapeutics has a 1 year low of $0.47 and a 1 year high of $1.82. The firm’s fifty day simple moving average is $1.38 and its 200 day simple moving average is $0.97.

Unicycive Therapeutics (NASDAQ:UNCY) last posted its earnings results on Thursday, March 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. As a group, equities research analysts predict 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. Rosalind Advisors Inc. acquired a new stake in Unicycive Therapeutics in the 1st quarter worth $2,594,000. Vivo Capital LLC acquired a new stake in Unicycive Therapeutics in the 3rd quarter worth $2,984,000. Finally, RA Capital Management L.P. acquired a new stake in Unicycive Therapeutics in the 3rd quarter worth $2,985,000. 40.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on UNCY shares. Piper Sandler started coverage on shares of Unicycive Therapeutics in a report on Thursday, April 4th. They set an “overweight” rating and a $9.00 price target on the stock. Noble Financial started coverage on shares of Unicycive Therapeutics in a report on Wednesday, February 14th. They set an “outperform” rating and a $6.00 price target on the stock. Benchmark restated a “speculative buy” rating and set a $3.00 price target on shares of Unicycive Therapeutics in a report on Monday, April 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $4.50 target price on shares of Unicycive Therapeutics in a research note on Monday, April 1st.

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.