Unicycive Therapeutics (NASDAQ:UNCY) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Unicycive Therapeutics (NASDAQ:UNCY) announced its earnings results on Tuesday. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.08), FiscalAI reports.

Unicycive Therapeutics Trading Up 0.3%

UNCY stock traded up $0.02 during mid-day trading on Tuesday, hitting $7.97. The stock had a trading volume of 85,674 shares, compared to its average volume of 549,976. The firm has a market capitalization of $212.80 million, a P/E ratio of -3.67 and a beta of 1.78. The firm has a fifty day simple moving average of $7.01 and a 200 day simple moving average of $6.31. Unicycive Therapeutics has a 52 week low of $3.71 and a 52 week high of $11.00.

Institutional Investors Weigh In On Unicycive Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of 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 period. Lazard Asset Management LLC bought a new stake in Unicycive Therapeutics during the 2nd quarter valued at $55,000. Vanguard Group Inc. increased its stake in Unicycive Therapeutics by 8.7% during the 3rd quarter. Vanguard Group Inc. now owns 658,878 shares of the company’s stock valued at $2,873,000 after purchasing an additional 52,925 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Unicycive Therapeutics during the 3rd quarter valued at $512,000. Finally, Citadel Advisors LLC bought a new stake in Unicycive Therapeutics during the 3rd quarter valued at $182,000. 40.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on UNCY shares. Benchmark reduced their price objective on shares of Unicycive Therapeutics from $21.00 to $15.00 and set a “speculative buy” rating for the company in a research note on Monday, April 6th. Wall Street Zen downgraded shares of Unicycive Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. B. Riley Financial initiated coverage on shares of Unicycive Therapeutics in a report on Friday, May 1st. They set a “buy” rating and a $22.00 price objective on the stock. Guggenheim lowered their target price on shares of Unicycive Therapeutics from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Unicycive Therapeutics in a research note on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Unicycive Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $24.75.

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.