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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) saw a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 1,040,000 shares, a decrease of 39.2% from the March 31st total of 1,710,000 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 957,300 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Ratings Changes

A number of research firms have issued reports on UNCY. Guggenheim assumed coverage on Unicycive Therapeutics in a research report on Monday, April 21st. They issued a “buy” rating and a $6.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $7.50 target price on shares of Unicycive Therapeutics in a research report on Friday, April 11th.

Hedge Funds Weigh In On Unicycive Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of UNCY. Virtu Financial LLC grew 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. Northern Trust Corp boosted its holdings in shares of Unicycive Therapeutics by 142.4% during 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 during the period. XTX Topco Ltd grew its position in Unicycive Therapeutics by 142.2% in the 4th quarter. XTX Topco Ltd now owns 171,463 shares of the company’s stock worth $136,000 after purchasing an additional 100,679 shares during the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 122,089 shares in the last quarter. Finally, Acuta Capital Partners LLC boosted its holdings in shares of Unicycive Therapeutics by 16.4% in the fourth quarter. Acuta Capital Partners LLC now owns 2,303,000 shares of the company’s stock valued at $1,829,000 after acquiring an additional 323,801 shares in the last quarter. 40.42% of the stock is owned by institutional investors and hedge funds.

Unicycive Therapeutics Stock Performance

Shares of UNCY opened at $0.65 on Tuesday. Unicycive Therapeutics has a fifty-two week low of $0.20 and a fifty-two week high of $1.29. The stock has a fifty day moving average of $0.58 and a two-hundred day moving average of $0.60. The company has a market capitalization of $77.64 million, a PE ratio of -0.67 and a beta of 2.15.

Unicycive Therapeutics (NASDAQ:UNCY) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.13). As a group, equities research analysts forecast that Unicycive Therapeutics will post -0.23 earnings per share for the current fiscal year.

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.