Short Interest in Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Drops By 51.6%

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 823,300 shares, a decrease of 51.6% from the January 15th total of 1,700,000 shares. Based on an average daily volume of 1,410,000 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.9% of the shares of the stock are sold short.

Institutional Trading of Unicycive Therapeutics

Several large investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new position in shares of Unicycive Therapeutics during the 3rd quarter worth approximately $29,000. Virtu Financial LLC increased its position in Unicycive Therapeutics by 566.8% during the third quarter. Virtu Financial LLC now owns 73,975 shares of the company’s stock worth $30,000 after buying an additional 62,881 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in shares of Unicycive Therapeutics in the third quarter worth $33,000. Northern Trust Corp lifted its position in shares of Unicycive Therapeutics by 142.4% in the fourth quarter. Northern Trust Corp now owns 58,181 shares of the company’s stock valued at $46,000 after acquiring an additional 34,183 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Unicycive Therapeutics by 30.3% during the fourth quarter. Geode Capital Management LLC now owns 524,487 shares of the company’s stock valued at $417,000 after acquiring an additional 122,089 shares during the last quarter. 40.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UNCY has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of Unicycive Therapeutics in a research report on Wednesday, January 29th. Benchmark restated a “speculative buy” rating and issued a $3.00 price target on shares of Unicycive Therapeutics in a report on Friday, November 22nd.

Unicycive Therapeutics Stock Performance

NASDAQ UNCY traded up $0.03 during trading hours on Friday, reaching $0.59. The company’s stock had a trading volume of 744,433 shares, compared to its average volume of 955,472. The company’s 50-day moving average is $0.67 and its two-hundred day moving average is $0.52. Unicycive Therapeutics has a fifty-two week low of $0.20 and a fifty-two week high of $1.82. The stock has a market cap of $61.46 million, a PE ratio of -0.61 and a beta of 2.24.

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.