Great Point Partners LLC Takes $3.49 Million Position in Unicycive Therapeutics, Inc. (NASDAQ:UNCY)

Great Point Partners LLC purchased a new position in Unicycive Therapeutics, Inc. (NASDAQ:UNCY - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,559,000 shares of the company's stock, valued at approximately $3,491,000. Unicycive Therapeutics makes up approximately 1.0% of Great Point Partners LLC's portfolio, making the stock its 24th largest holding. Great Point Partners LLC owned 9.07% of Unicycive Therapeutics at the end of the most recent quarter.

Separately, Bleakley Financial Group LLC acquired a new position in shares of Unicycive Therapeutics during the third quarter worth $33,000. 40.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on UNCY shares. HC Wainwright reissued a "buy" rating and issued a $2.50 price target on shares of Unicycive Therapeutics in a report on Tuesday, November 12th. Benchmark restated a "speculative buy" rating and issued a $3.00 target price on shares of Unicycive Therapeutics in a research note on Friday, November 22nd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Unicycive Therapeutics has an average rating of "Buy" and a consensus price target of $5.13.

Unicycive Therapeutics Trading Up 14.9 %

UNCY stock traded up $0.09 during mid-day trading on Wednesday, reaching $0.68. The company's stock had a trading volume of 3,770,172 shares, compared to its average volume of 1,237,746. The stock has a market cap of $70.37 million, a PE ratio of -0.61 and a beta of 2.29. The company's 50 day moving average is $0.45 and its two-hundred day moving average is $0.51. Unicycive Therapeutics, Inc. has a fifty-two week low of $0.20 and a fifty-two week high of $1.82.

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.