Unicycive Therapeutics (NASDAQ:UNCY) Downgraded by Wall Street Zen to "Sell"

Key Points

• Unicycive Therapeutics was recently downgraded from a "hold" to a "sell" rating by analysts at Wall Street Zen.
• Despite the downgrade, HC Wainwright has upgraded the stock to a "strong-buy" rating with a price target of $90.00.
• The company reported earnings of ($0.52) per share, exceeding estimates, and currently has a consensus target price of $60.00.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Friday.

Separately, HC Wainwright raised shares of Unicycive Therapeutics to a "strong-buy" rating and set a $90.00 price target for the company in a research report on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, Unicycive Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $60.00.

Unicycive Therapeutics Trading Down 1.2%

UNCY opened at $4.20 on Friday. The company has a market capitalization of $74.17 million, a price-to-earnings ratio of -1.02 and a beta of 1.88. Unicycive Therapeutics has a 12-month low of $2.83 and a 12-month high of $11.00. The business's fifty day simple moving average is $4.96 and its 200-day simple moving average is $5.63.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.18. On average, equities research analysts predict that Unicycive Therapeutics will post -0.23 EPS for the current year.

Hedge Funds Weigh In On Unicycive Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of UNCY. Geode Capital Management LLC grew its position in Unicycive Therapeutics by 30.3% during the 4th quarter. Geode Capital Management LLC now owns 524,487 shares of the company's stock worth $417,000 after purchasing an additional 122,089 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Unicycive Therapeutics by 142.2% during the fourth quarter. XTX Topco Ltd now owns 171,463 shares of the company's stock valued at $136,000 after buying an additional 100,679 shares during the last quarter. Northern Trust Corp increased its position in shares of Unicycive Therapeutics by 142.4% in the 4th quarter. Northern Trust Corp now owns 58,181 shares of the company's stock valued at $46,000 after acquiring an additional 34,183 shares during the period. Nantahala Capital Management LLC raised its stake in Unicycive Therapeutics by 268.5% in the 4th quarter. Nantahala Capital Management LLC now owns 10,391,994 shares of the company's stock worth $8,253,000 after acquiring an additional 7,571,636 shares during the last quarter. Finally, Acuta Capital Partners LLC raised its stake in Unicycive Therapeutics by 16.4% in the 4th quarter. Acuta Capital Partners LLC now owns 2,303,000 shares of the company's stock worth $1,829,000 after acquiring an additional 323,801 shares during the last quarter. 40.42% of the stock is owned by hedge funds and other institutional investors.

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.

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