Unicycive Therapeutics (NASDAQ:UNCY) Issues Earnings Results

Unicycive Therapeutics (NASDAQ:UNCY) posted its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.41, FiscalAI reports.

Unicycive Therapeutics Stock Performance

Shares of UNCY stock traded up $0.43 during trading hours on Wednesday, reaching $5.43. The company had a trading volume of 1,001,372 shares, compared to its average volume of 946,126. Unicycive Therapeutics has a twelve month low of $3.71 and a twelve month high of $8.74. The stock’s fifty day simple moving average is $6.04 and its 200 day simple moving average is $6.67. The company has a market capitalization of $148.73 million, a P/E ratio of -2.46 and a beta of 1.79.

Analysts Set New Price Targets

A number of research firms recently commented on UNCY. Weiss Ratings raised shares of Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 9th. B. Riley Financial reaffirmed a “buy” rating and set a $22.00 price objective on shares of Unicycive Therapeutics in a research note on Tuesday, June 30th. Benchmark lowered their target price on shares of Unicycive Therapeutics from $18.00 to $13.00 and set a “speculative buy” rating for the company in a research note on Wednesday, July 1st. Wall Street Zen cut Unicycive Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Zacks Research downgraded Unicycive Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, Unicycive Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $21.75.

Institutional Trading of Unicycive Therapeutics

Several large investors have recently modified their holdings of UNCY. Millennium Management LLC purchased a new stake in Unicycive Therapeutics during the 4th quarter worth approximately $5,856,000. Vivo Capital LLC raised its position in shares of Unicycive Therapeutics by 57.4% in the 3rd quarter. Vivo Capital LLC now owns 1,789,916 shares of the company’s stock valued at $7,804,000 after purchasing an additional 652,901 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new position in shares of Unicycive Therapeutics in the 4th quarter valued at approximately $1,154,000. Squarepoint Ops LLC purchased a new position in shares of Unicycive Therapeutics during the 3rd quarter valued at approximately $512,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Unicycive Therapeutics during the 4th quarter valued at approximately $451,000. 40.42% of the stock is currently owned by institutional investors and hedge funds.

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. The company was incorporated in 2016 and is based in Los Altos, California.