Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Unicycive Therapeutics has a consensus “Hold” rating from seven analysts: five rate it a buy and two a sell. The average 12-month price target is $21.75, though several firms recently lowered their targets and Zacks Research downgraded the stock to “strong sell.”
• UNCY opened at $5.39, with a market capitalization of approximately $147.6 million and a 52-week range of $3.71 to $8.74. The company reported a quarterly loss of $0.06 per share, beating the consensus estimate of a $0.47 loss.
• Institutional investors own 40.42% of the company, with several major firms—including State Street, JPMorgan, and Bank of America—recently increasing their positions or initiating stakes.

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY - Get Free Report) have been given a consensus rating of "Hold" by the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $21.75.

Several research analysts have weighed in on the company. HC Wainwright lowered their target price on Unicycive Therapeutics from $22.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Benchmark cut their price target on Unicycive Therapeutics from $18.00 to $13.00 and set a "speculative buy" rating for the company in a research note on Wednesday, July 1st. Zacks Research cut Unicycive Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 21st. Wall Street Zen downgraded Unicycive Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Unicycive Therapeutics in a research report on Wednesday.

Unicycive Therapeutics Stock Performance

Shares of NASDAQ:UNCY opened at $5.39 on Thursday. Unicycive Therapeutics has a one year low of $3.71 and a one year high of $8.74. The stock has a market capitalization of $147.63 million, a price-to-earnings ratio of -2.44 and a beta of 1.79. The company has a 50-day simple moving average of $6.01 and a 200-day simple moving average of $6.66.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.47) by $0.41. As a group, research analysts forecast that Unicycive Therapeutics will post -1.49 EPS for the current fiscal year.

Institutional Trading of Unicycive Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in UNCY. State Street Corp increased its stake in shares of Unicycive Therapeutics by 19.0% during the fourth quarter. State Street Corp now owns 65,227 shares of the company's stock worth $376,000 after acquiring an additional 10,400 shares during the period. Lazard Asset Management LLC acquired a new stake in Unicycive Therapeutics in the second quarter valued at about $55,000. JPMorgan Chase & Co. lifted its position in Unicycive Therapeutics by 11,698.4% in the second 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 during the period. Renaissance Technologies LLC purchased a new stake in Unicycive Therapeutics in the 1st quarter valued at approximately $161,000. Finally, Bank of America Corp DE boosted its holdings in Unicycive Therapeutics by 19,327.6% in the 1st quarter. Bank of America Corp DE now owns 29,530 shares of the company's stock valued at $194,000 after purchasing an additional 29,378 shares in 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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