Nantahala Capital Management LLC Reduces Stock Position in Unicycive Therapeutics, Inc. (NASDAQ:UNCY)

Nantahala Capital Management LLC trimmed its stake in shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY) by 15.4% during the second quarter, HoldingsChannel.com reports. The firm owned 2,820,358 shares of the company’s stock after selling 515,228 shares during the quarter. Nantahala Capital Management LLC owned approximately 0.07% of Unicycive Therapeutics worth $1,413,000 as of its most recent filing with the SEC.

Separately, BVF Inc. IL increased its position in shares of Unicycive Therapeutics by 70.5% during the first quarter. BVF Inc. IL now owns 3,611,601 shares of the company’s stock valued at $4,984,000 after buying an additional 1,493,462 shares during the period. 40.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on UNCY shares. Brookline Capital Management upgraded shares of Unicycive Therapeutics to a “strong-buy” rating in a research note on Tuesday, July 9th. HC Wainwright reissued a “buy” rating and set a $2.50 price objective on shares of Unicycive Therapeutics in a research note on Tuesday, September 3rd. Finally, Benchmark reaffirmed a “speculative buy” rating and issued a $3.00 price target on shares of Unicycive Therapeutics in a report on Friday, September 6th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $5.13.

Unicycive Therapeutics Trading Down 2.1 %

Shares of Unicycive Therapeutics stock opened at $0.41 on Tuesday. The firm has a market capitalization of $38.49 million, a PE ratio of -0.34 and a beta of 2.34. The business’s 50-day moving average price is $0.38 and its 200-day moving average price is $0.74. Unicycive Therapeutics, Inc. has a 12 month low of $0.20 and a 12 month high of $1.82.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.08. As a group, analysts predict that Unicycive Therapeutics, Inc. will post -0.26 earnings per share for the current fiscal year.

Unicycive Therapeutics 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.