Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Short Interest Update

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 382,900 shares, an increase of 49.1% from the March 31st total of 256,800 shares. Based on an average daily trading volume, of 383,000 shares, the short-interest ratio is currently 1.0 days. Currently, 1.5% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

UNCY has been the subject of a number of research analyst reports. Noble Financial initiated coverage on Unicycive Therapeutics in a report on Wednesday, February 14th. They issued an “outperform” rating and a $6.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $4.50 price target on shares of Unicycive Therapeutics in a report on Monday, April 1st. Piper Sandler initiated coverage on Unicycive Therapeutics in a report on Thursday, April 4th. They set an “overweight” rating and a $9.00 price objective for the company. Finally, Benchmark restated a “speculative buy” rating and issued a $3.00 target price on shares of Unicycive Therapeutics in a research note on Monday, April 15th.

Unicycive Therapeutics Trading Up 6.2 %

Shares of Unicycive Therapeutics stock opened at $1.03 on Friday. The company’s 50-day moving average price is $1.38 and its 200-day moving average price is $0.97. Unicycive Therapeutics has a 12-month low of $0.47 and a 12-month high of $1.82. The company has a market cap of $35.80 million, a price-to-earnings ratio of -0.66 and a beta of 2.66.

Unicycive Therapeutics (NASDAQ:UNCY) last posted its earnings results on Thursday, March 28th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. On average, sell-side analysts predict that Unicycive Therapeutics will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Unicycive Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Rosalind Advisors Inc. purchased a new position in shares of Unicycive Therapeutics during the first quarter worth about $2,594,000. Vivo Capital LLC purchased a new stake in Unicycive Therapeutics in the third quarter valued at approximately $2,984,000. Finally, RA Capital Management L.P. bought a new stake in shares of Unicycive Therapeutics during the 3rd quarter worth $2,985,000. Institutional investors own 40.42% of the company’s stock.

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.