Unicycive Therapeutics (NASDAQ:UNCY) Downgraded to Sell Rating by Wall Street Zen

Unicycive Therapeutics (NASDAQ:UNCY) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other research analysts have also weighed in on UNCY. HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of Unicycive Therapeutics in a report on Wednesday, May 27th. B. Riley Financial started coverage on shares of Unicycive Therapeutics in a research report on Friday, May 1st. They issued a “buy” rating and a $22.00 price objective on the stock. Guggenheim reissued a “buy” rating and set a $37.00 price target (down from $40.00) on shares of Unicycive Therapeutics in a report on Wednesday, May 13th. Weiss Ratings raised shares of Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 9th. Finally, Benchmark reiterated a “speculative buy” rating and issued a $18.00 price objective (up from $15.00) on shares of Unicycive Therapeutics in a research note on Tuesday, June 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.75.

Unicycive Therapeutics Stock Performance

Unicycive Therapeutics stock opened at $7.13 on Friday. Unicycive Therapeutics has a 52 week low of $3.71 and a 52 week high of $8.74. The stock has a market capitalization of $195.29 million, a P/E ratio of -3.23 and a beta of 1.73. The stock has a 50-day simple moving average of $7.53 and a 200 day simple moving average of $6.83.

Unicycive Therapeutics (NASDAQ:UNCY) last released its quarterly earnings data 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). Research analysts forecast that Unicycive Therapeutics will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On Unicycive Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UNCY. Lazard Asset Management LLC bought a new stake in shares of Unicycive Therapeutics during the 2nd quarter valued at $55,000. JPMorgan Chase & Co. increased its position in shares of Unicycive Therapeutics by 11,698.4% in the second quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock worth $104,000 after purchasing an additional 21,525 shares during the period. Renaissance Technologies LLC acquired a new position in Unicycive Therapeutics in the first quarter valued at about $161,000. Citadel Advisors LLC bought a new stake in Unicycive Therapeutics during the third quarter worth about $182,000. Finally, Bank of America Corp DE lifted its position in Unicycive Therapeutics by 19,327.6% during the first quarter. Bank of America Corp DE now owns 29,530 shares of the company’s stock worth $194,000 after purchasing an additional 29,378 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.