Short Interest in Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Drops By 16.0%

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) saw a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 666,100 shares, a drop of 16.0% from the April 30th total of 793,000 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily volume of 884,600 shares, the short-interest ratio is currently 0.8 days.

Unicycive Therapeutics Price Performance

Shares of Unicycive Therapeutics stock opened at $0.76 on Wednesday. Unicycive Therapeutics has a 52-week low of $0.20 and a 52-week high of $0.94. The firm has a market capitalization of $92.04 million, a PE ratio of -0.79 and a beta of 2.14. The company’s fifty day moving average price is $0.59 and its two-hundred day moving average price is $0.62.

Unicycive Therapeutics (NASDAQ:UNCY) last posted its earnings results on Wednesday, May 14th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Analysts predict that Unicycive Therapeutics will post -0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. HC Wainwright upgraded shares of Unicycive Therapeutics to a “strong-buy” rating and set a $9.00 price objective on the stock in a report on Tuesday, May 27th. Guggenheim started coverage on Unicycive Therapeutics in a research note on Monday, April 21st. They set a “buy” rating and a $6.00 price target on the stock.

Institutional Investors Weigh In On Unicycive Therapeutics

A number of institutional investors have recently added to or reduced their stakes in UNCY. Vivo Capital LLC raised its holdings in shares of Unicycive Therapeutics by 14.0% in the 1st quarter. Vivo Capital LLC now owns 11,370,152 shares of the company’s stock worth $6,537,000 after buying an additional 1,400,000 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in Unicycive Therapeutics by 268.5% in the 4th quarter. Nantahala Capital Management LLC now owns 10,391,994 shares of the company’s stock valued at $8,253,000 after buying an additional 7,571,636 shares in the last quarter. Octagon Capital Advisors LP grew its position in Unicycive Therapeutics by 16.8% in the fourth quarter. Octagon Capital Advisors LP now owns 10,000,000 shares of the company’s stock valued at $7,942,000 after acquiring an additional 1,441,000 shares during the period. Acuta Capital Partners LLC grew its position in 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 during the period. Finally, Geode Capital Management LLC raised its stake in Unicycive Therapeutics by 30.3% during the fourth quarter. Geode Capital Management LLC now owns 524,487 shares of the company’s stock worth $417,000 after acquiring an additional 122,089 shares in the last quarter. 40.42% of the stock is owned by institutional investors and hedge funds.

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.