Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Sees Large Decrease in Short Interest

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 837,200 shares, a decrease of 33.6% from the November 15th total of 1,260,000 shares. Based on an average daily volume of 1,610,000 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.0% of the company’s stock are short sold.

Unicycive Therapeutics Stock Performance

UNCY stock traded down $0.03 on Friday, hitting $0.71. 668,889 shares of the company’s stock were exchanged, compared to its average volume of 1,246,560. The firm has a 50 day moving average price of $0.53 and a two-hundred day moving average price of $0.49. Unicycive Therapeutics has a 12-month low of $0.20 and a 12-month high of $1.82. The stock has a market cap of $74.16 million, a P/E ratio of -0.74 and a beta of 2.36.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on UNCY shares. HC Wainwright reaffirmed a “buy” rating and set a $2.50 price objective on shares of Unicycive Therapeutics in a research report on Tuesday, November 12th. Benchmark reaffirmed a “speculative buy” rating and issued a $3.00 price objective on shares of Unicycive Therapeutics in a research report on Friday, November 22nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Unicycive Therapeutics has an average rating of “Buy” and an average price target of $5.13.

Institutional Investors Weigh In On Unicycive Therapeutics

Large investors have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in shares of Unicycive Therapeutics in the 3rd quarter valued at approximately $29,000. Virtu Financial LLC increased its stake in Unicycive Therapeutics by 566.8% during the 3rd quarter. Virtu Financial LLC now owns 73,975 shares of the company’s stock valued at $30,000 after purchasing an additional 62,881 shares in the last quarter. Bleakley Financial Group LLC purchased a new position in shares of Unicycive Therapeutics in the third quarter worth $33,000. Acuta Capital Partners LLC acquired a new stake in shares of Unicycive Therapeutics during the third quarter worth $807,000. Finally, Walleye Capital LLC purchased a new stake in shares of Unicycive Therapeutics during the third quarter valued at $2,040,000. Hedge funds and other 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.