Unicycive Therapeutics (NASDAQ:UNCY) Trading Up 2.4% – What’s Next?

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) shares shot up 2.4% during trading on Wednesday . The company traded as high as $6.46 and last traded at $6.37. 266,583 shares traded hands during trading, a decline of 57% from the average session volume of 623,615 shares. The stock had previously closed at $6.22.

Analyst Ratings Changes

A number of research analysts recently commented on UNCY shares. Guggenheim reiterated a “buy” rating on shares of Unicycive Therapeutics in a research note on Tuesday, December 30th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target (up from $9.00) on shares of Unicycive Therapeutics in a research note on Wednesday, October 29th. Wall Street Zen raised Unicycive Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, November 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Unicycive Therapeutics in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Unicycive Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $34.33.

Unicycive Therapeutics Stock Up 2.4%

The stock has a market cap of $136.89 million, a price-to-earnings ratio of -1.61 and a beta of 1.85. The company’s 50-day simple moving average is $6.20 and its 200-day simple moving average is $5.25.

Institutional Investors Weigh In On Unicycive Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC acquired a new position in shares of Unicycive Therapeutics in the 2nd quarter valued at $55,000. JPMorgan Chase & Co. raised its holdings in Unicycive Therapeutics by 11,698.4% during 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 period. Citadel Advisors LLC purchased a new stake in Unicycive Therapeutics during the third quarter valued at about $182,000. Quadrature Capital Ltd acquired a new position in shares of Unicycive Therapeutics in the fourth quarter worth about $226,000. Finally, State Street Corp boosted its holdings in shares of Unicycive Therapeutics by 19.0% in 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 period. 40.42% of the stock is owned by institutional investors and hedge funds.

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.