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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY - Get Free Report) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 666,100 shares, a decrease of 16.0% from the April 30th total of 793,000 shares. Based on an average daily trading volume, of 884,600 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.7% of the shares of the company are short sold.

Hedge Funds Weigh In On Unicycive Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UNCY. Nantahala Capital Management LLC boosted its stake in Unicycive Therapeutics by 268.5% during the 4th quarter. Nantahala Capital Management LLC now owns 10,391,994 shares of the company's stock valued at $8,253,000 after purchasing an additional 7,571,636 shares in the last quarter. Vivo Capital LLC boosted its stake in Unicycive Therapeutics by 123.0% during the 4th quarter. Vivo Capital LLC now owns 9,970,152 shares of the company's stock valued at $7,918,000 after purchasing an additional 5,500,000 shares in the last quarter. Octagon Capital Advisors LP boosted its stake in Unicycive Therapeutics by 16.8% during the 4th quarter. Octagon Capital Advisors LP now owns 10,000,000 shares of the company's stock valued at $7,942,000 after purchasing an additional 1,441,000 shares in the last quarter. Acuta Capital Partners LLC boosted its stake in Unicycive Therapeutics by 16.4% during the 4th quarter. Acuta Capital Partners LLC now owns 2,303,000 shares of the company's stock valued at $1,829,000 after purchasing an additional 323,801 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Unicycive Therapeutics by 30.3% during the 4th 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.

Unicycive Therapeutics Stock Down 1.9%

NASDAQ UNCY traded down $0.01 on Friday, reaching $0.75. 2,257,918 shares of the stock traded hands, compared to its average volume of 1,609,354. The firm's fifty day simple moving average is $0.60 and its 200 day simple moving average is $0.63. The company has a market cap of $91.00 million, a price-to-earnings ratio of -0.78 and a beta of 2.01. Unicycive Therapeutics has a 12 month low of $0.20 and a 12 month high of $0.87.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.09. As a group, equities research analysts forecast that Unicycive Therapeutics will post -0.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on UNCY. Guggenheim began coverage on Unicycive Therapeutics in a report on Monday, April 21st. They issued a "buy" rating and a $6.00 price objective for the company. HC Wainwright raised Unicycive Therapeutics to a "strong-buy" rating and set a $9.00 price objective for the company in a report on Tuesday, May 27th.

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.