Guggenheim Has Lowered Expectations for Unicycive Therapeutics (NASDAQ:UNCY) Stock Price

Key Points

• Guggenheim cut its price objective on Unicycive from $46 to $40 but maintained a "buy" rating, a target implying roughly a 478.9% upside from the prior close.
• UNCY traded around $6.91 (down 2.9%) with a market cap near $174M, recently reported an EPS miss of ($0.82) versus ($0.46) expected, and holds a MarketBeat consensus of "Moderate Buy" with an average target of $27.67 (four buys, one sell).

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) had its price objective decreased by investment analysts at Guggenheim from $46.00 to $40.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's price objective would indicate a potential upside of 478.87% from the stock's previous close.

Several other equities research analysts have also commented on UNCY. Weiss Ratings reissued a "sell (d-)" rating on shares of Unicycive Therapeutics in a report on Friday, March 27th. Westpark Capital assumed coverage on shares of Unicycive Therapeutics in a research report on Thursday, February 19th. They issued a "buy" rating on the stock. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Unicycive Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $27.67.

Unicycive Therapeutics Trading Down 2.9%

UNCY traded down $0.21 during trading on Thursday, hitting $6.91. The company's stock had a trading volume of 86,346 shares, compared to its average volume of 547,814. The firm has a market capitalization of $174.41 million, a price-to-earnings ratio of -3.18 and a beta of 1.81. Unicycive Therapeutics has a twelve month low of $3.71 and a twelve month high of $11.00. The business's fifty day simple moving average is $6.67 and its 200 day simple moving average is $5.78.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last announced its 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). As a group, equities research analysts forecast that Unicycive Therapeutics will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Unicycive Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in shares of Unicycive Therapeutics during the second quarter worth approximately $55,000. JPMorgan Chase & Co. lifted its holdings in Unicycive Therapeutics by 11,698.4% in the 2nd 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 in the last quarter. Citadel Advisors LLC purchased a new position in Unicycive Therapeutics in the 3rd quarter valued at $182,000. Quadrature Capital Ltd acquired a new stake in Unicycive Therapeutics during the 4th quarter worth $226,000. Finally, State Street Corp boosted its stake in Unicycive Therapeutics by 19.0% during the 4th quarter. State Street Corp now owns 65,227 shares of the company's stock worth $376,000 after purchasing an additional 10,400 shares during the last quarter. Hedge funds and other institutional investors own 40.42% of the company's stock.

Unicycive Therapeutics Company Profile

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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