Short Interest in Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Decreases By 48.5%

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 384,900 shares, a drop of 48.5% from the August 31st total of 746,800 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 2,570,000 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

Several analysts have recently commented on the company. HC Wainwright restated a “buy” rating and issued a $2.50 target price on shares of Unicycive Therapeutics in a research note on Tuesday, September 3rd. Benchmark reissued a “speculative buy” rating and issued a $3.00 price objective on shares of Unicycive Therapeutics in a research report on Friday, September 6th. Finally, Brookline Capital Management raised shares of Unicycive Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 9th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $5.13.

Unicycive Therapeutics Stock Performance

Shares of UNCY opened at $0.42 on Friday. The stock’s 50-day simple moving average is $0.38 and its 200 day simple moving average is $0.76. Unicycive Therapeutics has a 52-week low of $0.20 and a 52-week high of $1.82. The stock has a market capitalization of $39.33 million, a price-to-earnings ratio of -0.35 and a beta of 2.34.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its earnings results on Wednesday, August 14th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.08. On average, research analysts forecast that Unicycive Therapeutics will post -0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of UNCY. Rosalind Advisors Inc. purchased a new stake in shares of Unicycive Therapeutics during the first quarter valued at approximately $2,594,000. BVF Inc. IL grew its stake in shares of Unicycive Therapeutics by 70.5% in the 1st quarter. BVF Inc. IL now owns 3,611,601 shares of the company’s stock worth $4,984,000 after buying an additional 1,493,462 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Unicycive Therapeutics in the 1st quarter worth about $36,000. 40.42% of the stock is currently owned by institutional investors.

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.