Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Given Consensus Recommendation of “Hold” by Brokerages

Unicycive Therapeutics, Inc. (NASDAQ:UNCY) has been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $18.25.

UNCY has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 9th. Guggenheim reaffirmed a “buy” rating and issued a $25.00 price objective (down from $37.00) on shares of Unicycive Therapeutics in a research report on Thursday. Zacks Research lowered Unicycive Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 21st. 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. Finally, Benchmark cut their price target on Unicycive Therapeutics from $18.00 to $13.00 and set a “speculative buy” rating for the company in a report on Wednesday, July 1st.

Unicycive Therapeutics Trading Up 1.1%

Shares of UNCY opened at $5.57 on Thursday. The company’s fifty day simple moving average is $5.92 and its 200 day simple moving average is $6.63. Unicycive Therapeutics has a 1-year low of $3.71 and a 1-year high of $8.74. The company has a market cap of $155.12 million, a price-to-earnings ratio of -3.18 and a beta of 1.79.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.41. As a group, research analysts forecast that Unicycive Therapeutics will post -1.17 earnings per share for the current year.

Institutional Trading of Unicycive Therapeutics

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new position in Unicycive Therapeutics in the 2nd quarter valued at about $55,000. JPMorgan Chase & Co. grew 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 valued at $104,000 after purchasing an additional 21,525 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Unicycive Therapeutics in the first quarter valued at approximately $161,000. Citadel Advisors LLC bought a new position in shares of Unicycive Therapeutics during the third quarter worth approximately $182,000. Finally, Bank of America Corp DE increased its stake in shares of 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. Institutional investors and hedge funds own 40.42% of the company’s stock.

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.