Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Given Average Rating of “Hold” by Brokerages

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) has been given an average rating of “Hold” by the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $21.75.

A number of analysts recently commented on the stock. Guggenheim reissued a “buy” rating and set a $37.00 price objective (down from $40.00) on shares of Unicycive Therapeutics in a report on Wednesday, May 13th. Zacks Research lowered Unicycive Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 9th. HC Wainwright dropped their price objective on Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Benchmark dropped their price objective on 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.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UNCY. Lazard Asset Management LLC acquired a new position in shares of Unicycive Therapeutics during the 2nd quarter worth $55,000. JPMorgan Chase & Co. grew its stake in Unicycive Therapeutics by 11,698.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock valued at $104,000 after acquiring an additional 21,525 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Unicycive Therapeutics in the 1st quarter valued at about $161,000. Citadel Advisors LLC acquired a new stake in Unicycive Therapeutics in the 3rd quarter valued at about $182,000. Finally, Bank of America Corp DE increased its holdings in Unicycive Therapeutics by 19,327.6% during the 1st quarter. Bank of America Corp DE now owns 29,530 shares of the company’s stock valued at $194,000 after acquiring an additional 29,378 shares in the last quarter. Hedge funds and other institutional investors own 40.42% of the company’s stock.

Unicycive Therapeutics Stock Performance

Unicycive Therapeutics stock opened at $5.39 on Thursday. The company has a market cap of $147.63 million, a P/E ratio of -2.44 and a beta of 1.79. Unicycive Therapeutics has a one year low of $3.71 and a one year high of $8.74. The business has a fifty day moving average of $6.01 and a two-hundred day moving average of $6.66.

Unicycive Therapeutics (NASDAQ:UNCY) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.41. Sell-side analysts predict that Unicycive Therapeutics will post -1.49 EPS for the current year.

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.