Nantahala Capital Management LLC Sells 515,228 Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY)

Nantahala Capital Management LLC lessened its position in shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY) by 15.4% in the second quarter, according to its most recent filing with the SEC. 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 7.50% of Unicycive Therapeutics worth $1,413,000 at the end of the most recent quarter.

Separately, BVF Inc. IL boosted its position in 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 acquiring an additional 1,493,462 shares during the last quarter. Institutional investors and hedge funds own 40.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on UNCY shares. Brookline Capital Management upgraded Unicycive Therapeutics to a “strong-buy” rating in a research report on Tuesday, July 9th. HC Wainwright reissued a “buy” rating and set a $2.50 target price 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 research note on Friday, September 6th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $5.13.

Unicycive Therapeutics Stock Down 2.1 %

Shares of Unicycive Therapeutics stock opened at $0.41 on Tuesday. The company has a market cap of $38.49 million, a PE ratio of -0.34 and a beta of 2.34. Unicycive Therapeutics, Inc. has a 52 week low of $0.20 and a 52 week high of $1.82. The business has a 50 day moving average price of $0.38 and a 200-day moving average price of $0.74.

Unicycive Therapeutics (NASDAQ:UNCY) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.08. As a group, research analysts anticipate that Unicycive Therapeutics, Inc. will post -0.26 EPS for the current year.

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.