Short Interest in Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Decreases By 48.5%

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 384,900 shares, a drop of 48.5% from the August 31st total of 746,800 shares. Based on an average trading volume of 2,570,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.5% of the company’s shares are short sold.

Analysts Set New Price Targets

Several analysts recently commented on the company. Benchmark reiterated a “speculative buy” rating and issued a $3.00 target price on shares of Unicycive Therapeutics in a report on Friday, September 6th. HC Wainwright reiterated a “buy” rating and set a $2.50 price objective on shares of Unicycive Therapeutics in a report on Tuesday, September 3rd. Finally, Brookline Capital Management raised Unicycive Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 9th. Four 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 company currently has a consensus rating of “Buy” and a consensus price target of $5.13.

Unicycive Therapeutics Trading Down 3.7 %

UNCY opened at $0.42 on Thursday. The company has a market cap of $15.84 million, a price-to-earnings ratio of -0.35 and a beta of 2.34. The company’s fifty day moving average price is $0.38 and its two-hundred day moving average price is $0.77. Unicycive Therapeutics has a 1-year low of $0.20 and a 1-year high of $1.82.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.08. As a group, equities analysts forecast that Unicycive Therapeutics will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Unicycive Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BVF Inc. IL grew its stake in shares of Unicycive Therapeutics by 70.5% in the 1st quarter. BVF Inc. IL now owns 3,611,601 shares of the company’s stock worth $4,984,000 after acquiring an additional 1,493,462 shares in the last quarter. Rosalind Advisors Inc. purchased a new position in Unicycive Therapeutics during the first quarter worth about $2,594,000. Finally, Virtu Financial LLC bought a new stake in Unicycive Therapeutics in the 1st quarter worth about $36,000. 40.42% of the stock is owned by hedge funds and other institutional investors.

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.