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

Unicycive Therapeutics, Inc. (NASDAQ:UNCY - Get Free Report) was the target of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 356,900 shares, a decline of 46.4% from the May 15th total of 666,100 shares. Based on an average daily volume of 2,370,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp grew its stake in Unicycive Therapeutics by 142.4% in the fourth quarter. Northern Trust Corp now owns 58,181 shares of the company's stock valued at $46,000 after purchasing an additional 34,183 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of Unicycive Therapeutics by 142.2% during the 4th quarter. XTX Topco Ltd now owns 171,463 shares of the company's stock worth $136,000 after acquiring an additional 100,679 shares in the last quarter. 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. Acuta Capital Partners LLC boosted its stake in shares of Unicycive Therapeutics by 16.4% during the 4th quarter. Acuta Capital Partners LLC now owns 2,303,000 shares of the company's stock worth $1,829,000 after acquiring an additional 323,801 shares in the last quarter. Finally, Vivo Capital LLC boosted its stake in shares of Unicycive Therapeutics by 14.0% during the 1st quarter. Vivo Capital LLC now owns 11,370,152 shares of the company's stock worth $6,537,000 after acquiring an additional 1,400,000 shares in the last quarter. Hedge funds and other institutional investors own 40.42% of the company's stock.

Wall Street Analyst Weigh In

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

Unicycive Therapeutics Stock Up 6.8%

Unicycive Therapeutics stock traded up $0.04 during mid-day trading on Friday, hitting $0.68. 4,321,453 shares of the company's stock traded hands, compared to its average volume of 1,962,427. The firm has a 50 day moving average price of $0.62 and a 200 day moving average price of $0.63. The company has a market cap of $82.20 million, a PE ratio of -0.70 and a beta of 2.01. Unicycive Therapeutics has a one year low of $0.20 and a one year high of $1.10.

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

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.

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