Unicycive Therapeutics (NASDAQ:UNCY) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Unicycive Therapeutics (NASDAQ:UNCY) issued its quarterly earnings data on Tuesday. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.08), FiscalAI reports.

Unicycive Therapeutics Stock Down 0.6%

Shares of NASDAQ:UNCY traded down $0.05 during trading on Tuesday, reaching $7.90. 172,332 shares of the company’s stock traded hands, compared to its average volume of 550,826. Unicycive Therapeutics has a fifty-two week low of $3.71 and a fifty-two week high of $11.00. The firm has a market cap of $211.01 million, a PE ratio of -3.63 and a beta of 1.78. The company has a 50-day simple moving average of $7.01 and a 200-day simple moving average of $6.31.

Institutional Investors Weigh In On Unicycive Therapeutics

Institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in Unicycive Therapeutics in the 2nd quarter worth about $55,000. JPMorgan Chase & Co. boosted its holdings in Unicycive Therapeutics by 11,698.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock worth $104,000 after buying an additional 21,525 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Unicycive Therapeutics in the 3rd quarter worth about $182,000. Quadrature Capital Ltd acquired a new stake in Unicycive Therapeutics in the 4th quarter worth about $226,000. Finally, State Street Corp boosted its holdings in Unicycive Therapeutics by 19.0% in the 4th 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. 40.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on UNCY shares. Weiss Ratings restated a “sell (d-)” rating on shares of Unicycive Therapeutics in a research note on Friday, March 27th. Wall Street Zen lowered Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Benchmark dropped their target price on Unicycive Therapeutics from $21.00 to $15.00 and set a “speculative buy” rating on the stock in a research report on Monday, April 6th. Westpark Capital started coverage on Unicycive Therapeutics in a research report on Thursday, February 19th. They set a “buy” rating on the stock. Finally, Guggenheim dropped their target price on Unicycive Therapeutics from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.75.

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.