Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Short Interest Down 46.4% in May

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) was the target of a significant drop in short interest in May. As of May 31st, there was short interest totalling 356,900 shares, a drop of 46.4% from the May 15th total of 666,100 shares. Based on an average daily trading volume, of 2,370,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On Unicycive Therapeutics

A number of large investors have recently made changes to their positions in UNCY. Northern Trust Corp boosted its position in Unicycive Therapeutics by 142.4% during the 4th quarter. Northern Trust Corp now owns 58,181 shares of the company’s stock worth $46,000 after acquiring an additional 34,183 shares during the period. XTX Topco Ltd increased its holdings in shares of Unicycive Therapeutics by 142.2% in the 4th quarter. XTX Topco Ltd now owns 171,463 shares of the company’s stock valued at $136,000 after purchasing an additional 100,679 shares during the period. Geode Capital Management LLC lifted its position in shares of Unicycive Therapeutics by 30.3% in the fourth quarter. Geode Capital Management LLC now owns 524,487 shares of the company’s stock worth $417,000 after purchasing an additional 122,089 shares in the last quarter. Acuta Capital Partners LLC boosted its holdings in shares of Unicycive Therapeutics by 16.4% during the fourth quarter. Acuta Capital Partners LLC now owns 2,303,000 shares of the company’s stock worth $1,829,000 after purchasing an additional 323,801 shares during the period. Finally, Vivo Capital LLC grew its position in Unicycive Therapeutics by 14.0% during the first quarter. Vivo Capital LLC now owns 11,370,152 shares of the company’s stock valued at $6,537,000 after purchasing an additional 1,400,000 shares in the last quarter. Institutional investors and hedge funds own 40.42% of the company’s stock.

Unicycive Therapeutics Trading Up 7.1%

Shares of NASDAQ UNCY traded up $0.05 during mid-day trading on Monday, reaching $0.73. The company had a trading volume of 3,872,403 shares, compared to its average volume of 1,970,502. The company has a 50-day moving average price of $0.62 and a two-hundred day moving average price of $0.63. The stock has a market cap of $88.06 million, a PE ratio of -0.75 and a beta of 2.01. Unicycive Therapeutics has a 1-year low of $0.20 and a 1-year high of $1.10.

Unicycive Therapeutics (NASDAQ:UNCY) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. On average, research analysts expect that Unicycive Therapeutics will post -0.23 EPS for the current year.

Wall Street Analyst Weigh In

UNCY has been the topic of several research reports. HC Wainwright upgraded shares of Unicycive Therapeutics to a “strong-buy” rating and set a $9.00 price target on the stock in a research report on Tuesday, May 27th. Guggenheim initiated coverage on shares of Unicycive Therapeutics in a report on Monday, April 21st. They issued a “buy” rating and a $6.00 target price on the 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.