Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) has received an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $21.75.

UNCY has been the subject of several recent research reports. B. Riley Financial reissued a “buy” rating and set a $22.00 price objective on shares of Unicycive Therapeutics in a report on Tuesday, June 30th. Guggenheim reaffirmed a “buy” rating and issued a $37.00 target price (down from $40.00) on shares of Unicycive Therapeutics in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 9th. Wall Street Zen downgraded shares of Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, HC Wainwright cut their price objective on shares of Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th.

Unicycive Therapeutics Stock Performance

NASDAQ UNCY opened at $5.38 on Friday. The stock has a market capitalization of $147.36 million, a P/E ratio of -2.43 and a beta of 1.79. Unicycive Therapeutics has a 52 week low of $3.71 and a 52 week high of $8.74. The stock has a fifty day moving average of $6.92 and a 200-day moving average of $6.77.

Unicycive Therapeutics (NASDAQ:UNCY) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.08). Equities research analysts forecast that Unicycive Therapeutics will post -1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in UNCY. Vivo Capital LLC grew its stake in shares of Unicycive Therapeutics by 57.4% during the third quarter. Vivo Capital LLC now owns 1,789,916 shares of the company’s stock worth $7,804,000 after purchasing an additional 652,901 shares during the period. Millennium Management LLC acquired a new position in Unicycive Therapeutics in the fourth quarter valued at about $5,856,000. Vanguard Group Inc. lifted its stake in Unicycive Therapeutics by 8.7% in the third quarter. Vanguard Group Inc. now owns 658,878 shares of the company’s stock valued at $2,873,000 after buying an additional 52,925 shares during the period. Cantor Fitzgerald L. P. bought a new position in Unicycive Therapeutics during the fourth quarter worth about $1,154,000. Finally, Geode Capital Management LLC boosted its holdings in Unicycive Therapeutics by 36.2% during the fourth quarter. Geode Capital Management LLC now owns 171,290 shares of the company’s stock worth $989,000 after buying an additional 45,563 shares during the last quarter. Institutional investors and hedge funds own 40.42% of the company’s stock.

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.