Unicycive Therapeutics (NASDAQ:UNCY) Shares Down 0.4% – Here’s Why

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY) traded down 0.4% during mid-day trading on Thursday . The company traded as low as $6.84 and last traded at $7.01. 244,639 shares were traded during trading, a decline of 48% from the average session volume of 466,469 shares. The stock had previously closed at $7.04.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Unicycive Therapeutics in a report on Monday, December 29th. Guggenheim reiterated a “buy” rating on shares of Unicycive Therapeutics in a research note on Tuesday, December 30th. Finally, Westpark Capital started coverage on Unicycive Therapeutics in a research note on Thursday, February 19th. They issued a “buy” rating for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

Unicycive Therapeutics Stock Performance

The firm has a market capitalization of $150.64 million, a PE ratio of -1.77 and a beta of 1.82. The company’s 50 day simple moving average is $6.51 and its 200-day simple moving average is $5.53.

Institutional Investors Weigh In On Unicycive Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in Unicycive Therapeutics during the fourth quarter valued at $5,856,000. Cantor Fitzgerald L. P. bought a new position in Unicycive Therapeutics in the 4th quarter worth about $1,154,000. Geode Capital Management LLC raised its holdings in shares of Unicycive Therapeutics by 36.2% in the 4th quarter. Geode Capital Management LLC now owns 171,290 shares of the company’s stock valued at $989,000 after acquiring an additional 45,563 shares in the last quarter. Vivo Capital LLC raised its holdings in shares of Unicycive Therapeutics by 57.4% in the 3rd quarter. Vivo Capital LLC now owns 1,789,916 shares of the company’s stock valued at $7,804,000 after acquiring an additional 652,901 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Unicycive Therapeutics during the 3rd quarter valued at about $512,000. Hedge funds and other institutional investors 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.