Unicycive Therapeutics (NASDAQ:UNCY) Trading Down 2% – Should You Sell?

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY) dropped 2% during trading on Thursday . The stock traded as low as $0.54 and last traded at $0.55. Approximately 1,035,689 shares changed hands during trading, a decline of 1% from the average daily volume of 1,049,095 shares. The stock had previously closed at $0.56.

Analysts Set New Price Targets

A number of brokerages have weighed in on UNCY. HC Wainwright reiterated a “buy” rating and issued a $4.00 price objective on shares of Unicycive Therapeutics in a research report on Wednesday, January 29th. Benchmark reaffirmed a “speculative buy” rating and issued a $3.00 price target on shares of Unicycive Therapeutics in a report on Friday, November 22nd.

Unicycive Therapeutics Stock Up 2.5 %

The firm has a market cap of $58.55 million, a price-to-earnings ratio of -0.58 and a beta of 2.26. The company’s 50-day moving average price is $0.63 and its 200-day moving average price is $0.54.

Hedge Funds Weigh In On Unicycive Therapeutics

Hedge funds have recently made changes to their positions in the company. Northern Trust Corp increased its position in shares of Unicycive Therapeutics by 142.4% during the fourth quarter. Northern Trust Corp now owns 58,181 shares of the company’s stock worth $46,000 after purchasing an additional 34,183 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of Unicycive Therapeutics by 566.8% during the third quarter. Virtu Financial LLC now owns 73,975 shares of the company’s stock worth $30,000 after buying an additional 62,881 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Unicycive Therapeutics in the third quarter valued at about $29,000. Geode Capital Management LLC lifted its stake in shares of Unicycive Therapeutics by 30.3% in the fourth quarter. Geode Capital Management LLC now owns 524,487 shares of the company’s stock worth $417,000 after buying an additional 122,089 shares in the last quarter. Finally, Acuta Capital Partners LLC boosted its position in Unicycive Therapeutics by 16.4% during the fourth quarter. Acuta Capital Partners LLC now owns 2,303,000 shares of the company’s stock worth $1,829,000 after acquiring an additional 323,801 shares during the last quarter. 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.