Short Interest in Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Increases By 1,211.2%

Key Points

• Unicycive Therapeutics experienced a significant increase in short interest, rising by 1,211.2% in July, with a total of 1,420,000 shares sold short as of July 15th.
• The company reported an earnings per share (EPS) of ($0.50) for the last quarter, outperforming analysts' expectations by $0.90.
• Several brokerages, including HC Wainwright, have upgraded Unicycive Therapeutics' rating, with price targets reaching as high as $90.00.

Unicycive Therapeutics, Inc. (NASDAQ:UNCY - Get Free Report) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 1,420,000 shares, agrowthof1,211.2% from the June 30th total of 108,300 shares. Based on an average daily trading volume, of 650,700 shares, the days-to-cover ratio is presently 2.2 days. Currently,12.9% of the shares of the stock are sold short. Currently,12.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 650,700 shares, the days-to-cover ratio is presently 2.2 days.

Analysts Set New Price Targets

A number of research analysts recently issued reports on UNCY shares. Guggenheim started coverage on Unicycive Therapeutics in a report on Monday, April 21st. They issued a "buy" rating and a $60.00 price target for the company. HC Wainwright raised Unicycive Therapeutics to a "strong-buy" rating and set a $90.00 price target for the company in a report on Tuesday, May 27th.

Unicycive Therapeutics Stock Performance

NASDAQ:UNCY traded down $0.01 on Monday, hitting $4.19. 203,957 shares of the stock were exchanged, compared to its average volume of 537,642. The stock has a market capitalization of $52.97 million, a price-to-earnings ratio of -0.82 and a beta of 1.88. Unicycive Therapeutics has a 52 week low of $2.02 and a 52 week high of $11.00. The company's 50-day moving average price is $5.70 and its 200 day moving average price is $5.81.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.50) EPS for the quarter, beating analysts' consensus estimates of ($1.40) by $0.90. As a group, equities research analysts predict that Unicycive Therapeutics will post -0.23 earnings per share for the current year.

Institutional Trading of Unicycive Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp grew its position in shares of Unicycive Therapeutics by 142.4% in the 4th 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 during the period. Nantahala Capital Management LLC boosted its position 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 worth $8,253,000 after acquiring an additional 7,571,636 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 during the last quarter. XTX Topco Ltd boosted its position in 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 during the last quarter. Finally, Vivo Capital LLC boosted its position in Unicycive Therapeutics by 123.0% during the 4th quarter. Vivo Capital LLC now owns 9,970,152 shares of the company's stock worth $7,918,000 after acquiring an additional 5,500,000 shares during the last quarter. 40.42% of the stock is owned by institutional investors.

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.