Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Short Interest Up 49.1% in April

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

Unicycive Therapeutics Price Performance

NASDAQ UNCY opened at $1.03 on Friday. Unicycive Therapeutics has a fifty-two week low of $0.47 and a fifty-two week high of $1.82. The business has a fifty day moving average of $1.38 and a 200-day moving average of $0.97.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its earnings results on Thursday, March 28th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. Sell-side analysts forecast that Unicycive Therapeutics will post -0.58 EPS for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Unicycive Therapeutics

Institutional investors have recently modified their holdings of the company. Rosalind Advisors Inc. acquired a new stake in Unicycive Therapeutics during the first quarter worth approximately $2,594,000. Vivo Capital LLC acquired a new position in Unicycive Therapeutics in the third quarter valued at $2,984,000. Finally, RA Capital Management L.P. purchased a new position in Unicycive Therapeutics during the third quarter worth about $2,985,000. Institutional investors and hedge funds 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.