Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Receives Consensus Rating of “Hold” from Analysts

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY) have earned a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $21.75.

A number of equities analysts have recently issued reports on the stock. Guggenheim reissued 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. HC Wainwright dropped their price target on Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Benchmark cut their price target on Unicycive Therapeutics from $18.00 to $13.00 and set a “speculative buy” rating on the stock in a report on Wednesday, July 1st. B. Riley Financial reissued a “buy” rating and issued a $22.00 price objective on shares of Unicycive Therapeutics in a research note on Tuesday, June 30th. Finally, Wall Street Zen downgraded Unicycive Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, June 27th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of UNCY. State Street Corp raised its holdings 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 period. Lazard Asset Management LLC purchased a new stake in shares of Unicycive Therapeutics during the second quarter worth $55,000. JPMorgan Chase & Co. boosted its holdings 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 acquiring an additional 21,525 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Unicycive Therapeutics in the first quarter valued at $161,000. Finally, Bank of America Corp DE grew its position in shares of Unicycive Therapeutics by 19,327.6% in the first quarter. Bank of America Corp DE now owns 29,530 shares of the company’s stock valued at $194,000 after purchasing an additional 29,378 shares in the last quarter. 40.42% of the stock is owned by institutional investors.

Unicycive Therapeutics Stock Performance

Shares of NASDAQ:UNCY opened at $5.46 on Friday. The firm has a market cap of $149.55 million, a PE ratio of -2.47 and a beta of 1.79. The firm’s fifty day moving average is $6.70 and its 200-day moving average is $6.77. Unicycive Therapeutics has a 52 week low of $3.71 and a 52 week high of $8.74.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its 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). Sell-side analysts forecast that Unicycive Therapeutics will post -1.49 EPS for the current year.

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.