Short Interest in Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Decreases By 33.6%

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 837,200 shares, a decline 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 short-interest ratio is presently 0.5 days. Currently, 1.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

UNCY has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $2.50 price objective on shares of Unicycive Therapeutics in a research report on Tuesday, November 12th. Benchmark reiterated a “speculative buy” rating and issued a $3.00 price target on shares of Unicycive Therapeutics in a report on Friday, November 22nd. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Unicycive Therapeutics has a consensus rating of “Buy” and an average target price of $5.13.

Unicycive Therapeutics Stock Performance

Unicycive Therapeutics stock traded down $0.03 during trading hours on Friday, hitting $0.71. The company had a trading volume of 668,889 shares, compared to its average volume of 1,246,560. The firm has a market cap of $74.16 million, a P/E ratio of -0.74 and a beta of 2.36. The company 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 1 year low of $0.20 and a 1 year high of $1.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in shares of Unicycive Therapeutics in the 3rd quarter worth $29,000. Virtu Financial LLC raised its holdings in shares of Unicycive Therapeutics by 566.8% in the third quarter. Virtu Financial LLC now owns 73,975 shares of the company’s stock valued at $30,000 after acquiring an additional 62,881 shares in the last quarter. Bleakley Financial Group LLC purchased a new stake in Unicycive Therapeutics in the third quarter worth about $33,000. Acuta Capital Partners LLC bought a new position in Unicycive Therapeutics during the 3rd quarter worth about $807,000. Finally, Walleye Capital LLC purchased a new position in Unicycive Therapeutics during the 3rd quarter valued at about $2,040,000. Institutional investors own 40.42% of the company’s stock.

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.