Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Unicycive Therapeutics has a consensus analyst rating of “Moderate Buy” from six brokerages, with five buy ratings and one sell rating. The average 1-year price target is $21.75.
• The stock opened at $5.38 and has a market value of about $147.36 million. It has traded between $3.71 and $8.74 over the past year and recently moved below both its 50-day and 200-day averages.
• The company reported a quarterly EPS loss of $0.54, missing analyst expectations, and researchers forecast a full-year loss of $1.49 per share. Unicycive is developing kidney-disease treatments, including Renazorb and UNI 494.

Unicycive Therapeutics, Inc. (NASDAQ:UNCY - Get Free Report) has received an average rating of "Moderate Buy" from the six brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $21.75.

UNCY has been the subject of several recent research reports. B. Riley Financial reissued a "buy" rating and set a $22.00 price objective on shares of Unicycive Therapeutics in a report on Tuesday, June 30th. Guggenheim reaffirmed a "buy" rating and issued a $37.00 target price (down from $40.00) on shares of Unicycive Therapeutics in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Unicycive Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, June 9th. Wall Street Zen downgraded shares of Unicycive Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Finally, HC Wainwright cut their price objective on shares of Unicycive Therapeutics from $22.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th.

Unicycive Therapeutics Stock Performance

NASDAQ UNCY opened at $5.38 on Friday. The stock has a market capitalization of $147.36 million, a P/E ratio of -2.43 and a beta of 1.79. Unicycive Therapeutics has a 52 week low of $3.71 and a 52 week high of $8.74. The stock has a fifty day moving average of $6.92 and a 200-day moving average of $6.77.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.08). Equities research analysts forecast that Unicycive Therapeutics will post -1.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in UNCY. Vivo Capital LLC grew its stake in shares of Unicycive Therapeutics by 57.4% during the third quarter. Vivo Capital LLC now owns 1,789,916 shares of the company's stock worth $7,804,000 after purchasing an additional 652,901 shares during the period. Millennium Management LLC acquired a new position in Unicycive Therapeutics in the fourth quarter valued at about $5,856,000. Vanguard Group Inc. lifted its stake in Unicycive Therapeutics by 8.7% in the third quarter. Vanguard Group Inc. now owns 658,878 shares of the company's stock valued at $2,873,000 after buying an additional 52,925 shares during the period. Cantor Fitzgerald L. P. bought a new position in Unicycive Therapeutics during the fourth quarter worth about $1,154,000. Finally, Geode Capital Management LLC boosted its holdings in Unicycive Therapeutics by 36.2% during the fourth quarter. Geode Capital Management LLC now owns 171,290 shares of the company's stock worth $989,000 after buying an additional 45,563 shares during the last quarter. Institutional investors and hedge funds 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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