Unicycive Therapeutics (NASDAQ:UNCY) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Unicycive Therapeutics from “hold” to “sell.” Other analysts remain more positive overall: MarketBeat reports a “Moderate Buy” consensus and an average price target of $18.25.
• Analyst views were mixed: Benchmark raised its target to $15, while Guggenheim, B. Riley and HC Wainwright lowered their targets but maintained “buy” ratings.
• Shares opened at $3.55, near the stock’s 52-week low of $3.33; the company reported a quarterly loss of $0.06 per share, narrower than analysts’ expected loss of $0.47.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on UNCY. Benchmark reissued a "speculative buy" rating and set a $15.00 price objective (up from $13.00) on shares of Unicycive Therapeutics in a report on Thursday, August 20th. Guggenheim reaffirmed a "buy" rating and issued a $25.00 target price (down from $37.00) on shares of Unicycive Therapeutics in a research note on Thursday, August 13th. B. Riley Financial reiterated a "buy" rating and set a $20.00 price target (down from $22.00) on shares of Unicycive Therapeutics in a research report on Wednesday, August 12th. Zacks Research upgraded shares of Unicycive Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 19th. Finally, HC Wainwright decreased their price target on shares of Unicycive Therapeutics from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Tuesday, September 29th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.25.

Unicycive Therapeutics Stock Performance

Shares of NASDAQ:UNCY opened at $3.55 on Friday. Unicycive Therapeutics has a 52-week low of $3.33 and a 52-week high of $8.74. The firm has a fifty day moving average of $4.19 and a 200 day moving average of $5.94. The firm has a market capitalization of $98.87 million, a PE ratio of -2.03 and a beta of 1.91.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.47) by $0.41. On average, sell-side analysts forecast that Unicycive Therapeutics will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Unicycive Therapeutics

Large investors have recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Unicycive Therapeutics in the third quarter valued at about $36,000. Chicago Partners Investment Group LLC boosted its holdings in shares of Unicycive Therapeutics by 26.0% during the third quarter. Chicago Partners Investment Group LLC now owns 26,966 shares of the company's stock worth $105,000 after purchasing an additional 5,556 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Unicycive Therapeutics during the first quarter worth about $161,000. Bank of America Corp DE boosted its holdings 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. Finally, Bank of New York Mellon Corp bought a new stake in shares of Unicycive Therapeutics in the second quarter worth about $248,000. Institutional investors own 40.42% of the company's stock.

About Unicycive Therapeutics

Unicycive Therapeutics is a biopharmaceutical company focused on developing treatments for kidney diseases. Its lead program, oxylanthanum carbonate (OLC), is an oral phosphate binder being developed to help manage hyperphosphatemia, or elevated blood phosphate levels, in people with chronic kidney disease, including patients receiving dialysis. The company is also developing UNI-494, an investigational small-molecule therapy for acute kidney injury. These programs reflect Unicycive's focus on conditions for which treatment options may be limited.

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