Unicycive Therapeutics (NASDAQ:UNCY) Announces Quarterly Earnings Results

Key Points

• Unicycive Therapeutics reported a quarterly loss of $0.06 per share, beating analysts’ consensus estimate of a $0.47 loss by $0.41.
• Shares rose to $5.43 following the results, while institutional investors own 40.42% of the company; recent activity included new stakes from Millennium Management and Cantor Fitzgerald.
• Analyst sentiment is mixed: the consensus rating is Hold with a $21.75 target price, although several firms recently cut their targets and Zacks Research downgraded the stock to “strong sell.”

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.41, FiscalAI reports.

Unicycive Therapeutics Price Performance

Shares of UNCY stock traded up $0.43 on Wednesday, hitting $5.43. The stock had a trading volume of 1,001,372 shares, compared to its average volume of 946,126. The firm has a market capitalization of $148.73 million, a P/E ratio of -2.46 and a beta of 1.79. The company's 50 day moving average price is $6.04 and its 200-day moving average price is $6.67. Unicycive Therapeutics has a 1 year low of $3.71 and a 1 year high of $8.74.

Institutional Trading of Unicycive Therapeutics

A number of large investors have recently modified their holdings of UNCY. Millennium Management LLC purchased a new stake in Unicycive Therapeutics during the 4th quarter worth about $5,856,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Unicycive Therapeutics in the 4th quarter valued at about $1,154,000. Geode Capital Management LLC lifted its stake in Unicycive Therapeutics by 36.2% in the fourth quarter. Geode Capital Management LLC now owns 171,290 shares of the company's stock valued at $989,000 after buying an additional 45,563 shares during the last quarter. Vivo Capital LLC raised its position in Unicycive Therapeutics by 57.4% in the 3rd quarter. Vivo Capital LLC now owns 1,789,916 shares of the company's stock valued at $7,804,000 after purchasing an additional 652,901 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Unicycive Therapeutics during the third quarter worth about $512,000. Hedge funds and other institutional investors own 40.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on UNCY. Benchmark dropped their price objective on shares of Unicycive Therapeutics from $18.00 to $13.00 and set a "speculative buy" rating on the stock in a report on Wednesday, July 1st. HC Wainwright dropped their target price on Unicycive Therapeutics from $22.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Zacks Research lowered shares of Unicycive Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 21st. Wall Street Zen lowered Unicycive Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Finally, 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. Five equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, Unicycive Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $21.75.

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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