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

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

Institutional Investors Weigh In On Unicycive Therapeutics

Large investors have recently added to or reduced their stakes in the company. Two Sigma Advisers LP acquired a new position in Unicycive Therapeutics during the 1st quarter worth $31,000. Ground Swell Capital LLC acquired a new position in Unicycive Therapeutics during the 2nd quarter worth $26,000. State Street Corp acquired a new position in Unicycive Therapeutics during the 1st quarter worth $74,000. Citadel Advisors LLC acquired a new position in Unicycive Therapeutics during the 4th quarter worth $31,000. Finally, Geode Capital Management LLC grew its holdings in Unicycive Therapeutics by 267.3% during the 1st quarter. Geode Capital Management LLC now owns 95,898 shares of the company’s stock worth $201,000 after acquiring an additional 69,789 shares in the last quarter. 40.42% of the stock is owned by institutional investors and hedge funds.

Unicycive Therapeutics Trading Down 1.5 %

UNCY opened at $1.30 on Thursday. The company has a fifty day simple moving average of $1.38 and a 200 day simple moving average of $0.95. The firm has a market cap of $45.19 million, a price-to-earnings ratio of -0.84 and a beta of 2.66. Unicycive Therapeutics has a twelve month low of $0.47 and a twelve month high of $2.24.

Unicycive Therapeutics (NASDAQ:UNCY) last released its quarterly earnings results on Thursday, March 28th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. On average, analysts forecast that Unicycive Therapeutics will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

UNCY has been the topic of a number of research reports. Piper Sandler initiated coverage on shares of Unicycive Therapeutics in a research note on Thursday, April 4th. They issued an “overweight” rating and a $9.00 target price on the stock. Noble Financial initiated coverage on shares of Unicycive Therapeutics in a research note on Wednesday, February 14th. They issued an “outperform” rating and a $6.00 target price on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $4.50 target price on shares of Unicycive Therapeutics in a research note on Monday, April 1st.

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.