B. Riley Financial Begins Coverage on Unicycive Therapeutics (NASDAQ:UNCY)

Key Points

• B. Riley Financial initiated coverage on Unicycive with a Buy rating and a $22 price target, implying roughly a 187% upside from the current share price.
• Analyst sentiment is mixed but leans positive—five Buys and one Sell—yielding a consensus rating of Moderate Buy and a consensus target of $24.75, with individual targets ranging from $15 to $40.
• UNCY trades around $7.66 with a market cap of about $193M, recently reported an EPS of ($0.82) that missed estimates, and roughly 40% of the stock is held by institutions.

Investment analysts at B. Riley Financial started coverage on shares of Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) in a research report issued to clients and investors on Friday. The firm set a "buy" rating and a $22.00 price target on the stock. B. Riley Financial's price objective indicates a potential upside of 187.21% from the stock's current price.

A number of other brokerages have also recently commented on UNCY. Westpark Capital began coverage on Unicycive Therapeutics in a research note on Thursday, February 19th. They issued a "buy" rating on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Unicycive Therapeutics in a research note on Friday, March 27th. Benchmark dropped their price target on shares of Unicycive Therapeutics from $21.00 to $15.00 and set a "speculative buy" rating for the company in a research report on Monday, April 6th. Finally, Guggenheim lowered their price objective on shares of Unicycive Therapeutics from $46.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, April 2nd. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Unicycive Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $24.75.

Unicycive Therapeutics Stock Up 7.0%

NASDAQ UNCY opened at $7.66 on Friday. The company has a 50-day simple moving average of $6.88 and a two-hundred day simple moving average of $6.18. Unicycive Therapeutics has a 12-month low of $3.71 and a 12-month high of $11.00. The firm has a market cap of $193.32 million, a price-to-earnings ratio of -3.53 and a beta of 1.81.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.36). Equities analysts expect that Unicycive Therapeutics will post 1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Unicycive Therapeutics

Several large investors have recently made changes to their positions in UNCY. Vivo Capital LLC increased its position in Unicycive Therapeutics by 57.4% during the 3rd quarter. Vivo Capital LLC now owns 1,789,916 shares of the company's stock valued at $7,804,000 after buying an additional 652,901 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Unicycive Therapeutics in the 4th quarter worth about $5,856,000. Vanguard Group Inc. raised its position in shares of Unicycive Therapeutics by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 658,878 shares of the company's stock worth $2,873,000 after purchasing an additional 52,925 shares during the last quarter. Cantor Fitzgerald L. P. bought a new position in Unicycive Therapeutics in the 4th quarter worth about $1,154,000. Finally, Geode Capital Management LLC grew its position in Unicycive Therapeutics by 36.2% during the 4th quarter. Geode Capital Management LLC now owns 171,290 shares of the company's stock valued at $989,000 after purchasing an additional 45,563 shares during the last quarter. 40.42% of the stock is currently owned by hedge funds and other institutional investors.

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.

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