Unicycive Therapeutics, Inc. (NASDAQ:UNCY – Get Free Report) was the target of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 1,050,000 shares, a growth of 22.1% from the May 15th total of 859,800 shares. Approximately 3.4% of the company’s shares are sold short. Based on an average daily trading volume, of 403,400 shares, the short-interest ratio is currently 2.6 days.
Institutional Investors Weigh In On Unicycive Therapeutics
Institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. bought a new position in Unicycive Therapeutics in the 3rd quarter valued at $2,985,000. Rosalind Advisors Inc. purchased a new position in shares of Unicycive Therapeutics in the 1st quarter worth about $2,594,000. BVF Inc. IL grew its position in Unicycive Therapeutics by 70.5% during the first quarter. BVF Inc. IL now owns 3,611,601 shares of the company’s stock valued at $4,984,000 after buying an additional 1,493,462 shares during the period. Finally, Virtu Financial LLC bought a new position in Unicycive Therapeutics during the first quarter valued at about $36,000. 40.42% of the stock is owned by institutional investors.
Unicycive Therapeutics Price Performance
Shares of UNCY stock traded down $0.01 on Friday, reaching $0.65. 217,493 shares of the company were exchanged, compared to its average volume of 430,017. Unicycive Therapeutics has a one year low of $0.47 and a one year high of $1.82. The company has a market cap of $24.41 million, a price-to-earnings ratio of -0.55 and a beta of 2.54. The company has a 50-day moving average of $1.01 and a 200-day moving average of $1.05.
Analysts Set New Price Targets
A number of analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $4.50 price target on shares of Unicycive Therapeutics in a research report on Wednesday, May 29th. Benchmark restated a “speculative buy” rating and set a $3.00 target price on shares of Unicycive Therapeutics in a research report on Friday, May 31st. Finally, Piper Sandler assumed coverage on Unicycive Therapeutics in a report on Thursday, April 4th. They issued an “overweight” rating and a $9.00 target price for the company.
Check Out Our Latest Report on UNCY
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.
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