Benchmark Cuts Unicycive Therapeutics (NASDAQ:UNCY) Price Target to $15.00

Key Points

• Benchmark cut its price target on Unicycive Therapeutics to $15 (from $21) while keeping a "speculative buy" rating, implying roughly a 116% upside from current levels.
• Unicycive reported a quarterly EPS of -$0.82 versus an expected -$0.46, and shares trade around $6.93 (market cap ~$175M), notably below the analysts' average target of $25.67 and reflecting mixed outlooks.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) had its price objective cut by research analysts at Benchmark from $21.00 to $15.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "speculative buy" rating on the stock. Benchmark's target price indicates a potential upside of 116.45% from the stock's current price.

UNCY has been the topic of several other research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Unicycive Therapeutics in a research note on Friday, March 27th. Westpark Capital began coverage on shares of Unicycive Therapeutics in a report on Thursday, February 19th. They set a "buy" rating on the stock. Finally, Guggenheim reduced their price objective on shares of Unicycive Therapeutics from $46.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Unicycive Therapeutics has an average rating of "Moderate Buy" and an average target price of $25.67.

Unicycive Therapeutics Stock Performance

Shares of Unicycive Therapeutics stock opened at $6.93 on Monday. The stock has a market cap of $174.91 million, a price-to-earnings ratio of -3.19 and a beta of 1.81. The stock has a 50 day moving average price of $6.67 and a 200-day moving average price of $5.84. Unicycive Therapeutics has a one year low of $3.71 and a one year high of $11.00.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last released its quarterly earnings results on Monday, March 30th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.36). Sell-side analysts predict that Unicycive Therapeutics will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Unicycive Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC bought a new position in shares of Unicycive Therapeutics in the second quarter worth about $55,000. JPMorgan Chase & Co. lifted its holdings in Unicycive Therapeutics by 11,698.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company's stock valued at $104,000 after buying an additional 21,525 shares in the last quarter. Citadel Advisors LLC bought a new stake in Unicycive Therapeutics during the 3rd quarter valued at about $182,000. Quadrature Capital Ltd purchased a new stake in Unicycive Therapeutics in the 4th quarter valued at about $226,000. Finally, State Street Corp boosted its position in Unicycive Therapeutics by 19.0% in the 4th quarter. State Street Corp now owns 65,227 shares of the company's stock valued at $376,000 after buying an additional 10,400 shares during the period. 40.42% of the stock is currently owned by 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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