Unicycive Therapeutics (NASDAQ:UNCY) Downgraded by Zacks Research to “Strong Sell”

Unicycive Therapeutics (NASDAQ:UNCY) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on UNCY. Guggenheim reiterated a “buy” rating and issued a $37.00 price target (down from $40.00) on shares of Unicycive Therapeutics in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Benchmark lowered their price target on shares of Unicycive Therapeutics from $18.00 to $13.00 and set a “speculative buy” rating for the company in a research report on Wednesday, July 1st. Weiss Ratings raised shares of Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 9th. Finally, B. Riley Financial restated a “buy” rating and issued a $22.00 price objective on shares of Unicycive Therapeutics in a report on Tuesday, June 30th. Five equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.75.

Unicycive Therapeutics Stock Performance

NASDAQ:UNCY opened at $5.57 on Tuesday. The stock’s fifty day moving average price is $6.76 and its two-hundred day moving average price is $6.77. Unicycive Therapeutics has a 52-week low of $3.71 and a 52-week high of $8.74. The company has a market cap of $152.56 million, a price-to-earnings ratio of -2.52 and a beta of 1.79.

Unicycive Therapeutics (NASDAQ:UNCY) last released its earnings results on Tuesday, May 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.08). On average, equities analysts predict that Unicycive Therapeutics will post -1.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Unicycive Therapeutics

Large investors have recently bought and sold shares of the company. Seven Fleet Capital Management LP acquired a new position in shares of Unicycive Therapeutics in the 1st quarter valued at $367,000. Bank of America Corp DE grew its stake in 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 acquiring an additional 29,378 shares during the period. Renaissance Technologies LLC acquired a new position in Unicycive Therapeutics in the first quarter valued at about $161,000. Dimensional Fund Advisors LP bought a new stake in shares of Unicycive Therapeutics in the first quarter worth about $940,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Unicycive Therapeutics during the fourth quarter worth about $226,000. 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.