Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $24.00.

UNCY has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Westpark Capital initiated coverage on shares of Unicycive Therapeutics in a research report on Thursday, February 19th. They set a “buy” rating on the stock. Benchmark lowered their price target on shares of 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. B. Riley Financial initiated coverage on shares of Unicycive Therapeutics in a research report on Friday, May 1st. They set a “buy” rating and a $22.00 price target on the stock. Finally, Guggenheim restated a “buy” rating and set a $37.00 price target (down from $40.00) on shares of Unicycive Therapeutics in a research report on Wednesday, May 13th.

Hedge Funds Weigh In On Unicycive Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of 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 acquiring an additional 10,400 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Unicycive Therapeutics in the 2nd quarter worth approximately $55,000. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 21,525 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Unicycive Therapeutics in the 1st quarter worth approximately $161,000. Finally, Bank of America Corp DE lifted its holdings in shares of Unicycive Therapeutics by 19,327.6% in the 1st quarter. Bank of America Corp DE now owns 29,530 shares of the company’s stock worth $194,000 after acquiring an additional 29,378 shares during the last quarter. 40.42% of the stock is currently owned by institutional investors and hedge funds.

Unicycive Therapeutics Stock Up 5.1%

UNCY stock opened at $7.38 on Friday. The stock has a market capitalization of $197.05 million, a P/E ratio of -3.34 and a beta of 1.78. The firm has a 50-day simple moving average of $7.26 and a 200-day simple moving average of $6.60. Unicycive Therapeutics has a 52 week low of $3.71 and a 52 week high of $11.00.

Unicycive Therapeutics (NASDAQ:UNCY) last released its earnings results on Tuesday, May 12th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). On average, analysts expect that Unicycive Therapeutics will post -1.34 earnings per share 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.