Unicycive Therapeutics (NASDAQ:UNCY) Posts Quarterly Earnings Results, Misses Expectations By $0.36 EPS

Unicycive Therapeutics (NASDAQ:UNCY) announced its earnings results on Monday. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.36), FiscalAI reports.

Unicycive Therapeutics Price Performance

Shares of Unicycive Therapeutics stock opened at $6.39 on Monday. The firm has a market cap of $137.32 million, a PE ratio of -1.62 and a beta of 1.82. Unicycive Therapeutics has a 1 year low of $3.71 and a 1 year high of $11.00. The stock has a fifty day moving average price of $6.66 and a 200-day moving average price of $5.74.

Hedge Funds Weigh In On Unicycive Therapeutics

Several institutional investors have recently added to or reduced their stakes in UNCY. State Street Corp increased its holdings in Unicycive Therapeutics by 19.0% during the fourth quarter. State Street Corp now owns 65,227 shares of the company’s stock worth $376,000 after buying an additional 10,400 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Unicycive Therapeutics in the second quarter valued at about $55,000. JPMorgan Chase & Co. boosted its stake in Unicycive Therapeutics by 11,698.4% in the second 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. Quadrature Capital Ltd bought a new position in shares of Unicycive Therapeutics during the 4th quarter valued at approximately $226,000. Finally, Citadel Advisors LLC bought a new position in shares of Unicycive Therapeutics during the 3rd quarter valued at approximately $182,000. Institutional investors own 40.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on UNCY shares. Guggenheim restated a “buy” rating on shares of Unicycive Therapeutics in a report on Tuesday, December 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Unicycive Therapeutics in a research note on Friday. Finally, Westpark Capital began coverage on shares of Unicycive Therapeutics in a research report on Thursday, February 19th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.33.

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