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

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $24.75.

UNCY has been the subject of several analyst reports. Weiss Ratings raised Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 9th. Benchmark reaffirmed a “speculative buy” rating and set a $18.00 price objective (up from $15.00) on shares of Unicycive Therapeutics in a research report on Tuesday, June 2nd. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Unicycive Therapeutics in a research report on Wednesday, May 27th. Guggenheim reaffirmed a “buy” rating and set a $37.00 price objective (down from $40.00) on shares of Unicycive Therapeutics in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised Unicycive Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th.

Unicycive Therapeutics Trading Up 1.9%

Shares of NASDAQ UNCY opened at $8.02 on Wednesday. Unicycive Therapeutics has a twelve month low of $3.71 and a twelve month high of $8.74. The stock has a fifty day simple moving average of $7.48 and a 200-day simple moving average of $6.80. The stock has a market capitalization of $219.67 million, a PE ratio of -3.63 and a beta of 1.73.

Unicycive Therapeutics (NASDAQ:UNCY) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). On average, equities analysts predict that Unicycive Therapeutics will post -0.32 earnings per share for the current year.

Institutional Trading of Unicycive Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in Unicycive Therapeutics by 19.0% during the 4th quarter. State Street Corp now owns 65,227 shares of the company’s stock valued at $376,000 after acquiring an additional 10,400 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Unicycive Therapeutics during the 2nd quarter valued at approximately $55,000. JPMorgan Chase & Co. raised its stake in Unicycive Therapeutics by 11,698.4% during 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 purchased a new stake in Unicycive Therapeutics during the 1st quarter valued at approximately $161,000. Finally, Bank of America Corp DE raised its stake 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 during the last quarter. 40.42% of the stock is owned by hedge funds and other institutional investors.

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.