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

Key Points

• Wall Street Zen downgraded Unicycive Therapeutics from a "hold" to a "sell," but the broader analyst picture remains mixed with five Buy ratings, one Sell, a consensus of "Moderate Buy" and an average price target of $24.75.
• Unicycive reported an earnings miss for the quarter (EPS -$0.82 vs. -$0.46 expected); the stock opened at $7.67 with a market cap of $193.6M, a negative P/E of -3.53 and a 52-week range of $3.71–$11.00.
• Institutional investors own about 40.42% of the company, with recent new positions including Millennium Management (~$5.86M) and others adding to institutional inflows.

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

A number of other equities research analysts also recently weighed in on UNCY. Westpark Capital assumed coverage on shares of Unicycive Therapeutics in a research note on Thursday, February 19th. They set a "buy" rating for the company. B. Riley Financial assumed coverage on shares of Unicycive Therapeutics in a research note on Friday. They set a "buy" rating and a $22.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Unicycive Therapeutics in a research note on Friday, March 27th. Guggenheim decreased their price objective on shares of Unicycive Therapeutics from $46.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, April 2nd. Finally, Benchmark decreased their price objective on shares of Unicycive Therapeutics from $21.00 to $15.00 and set a "speculative buy" rating for the company in a report on Monday, April 6th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.75.

Unicycive Therapeutics Price Performance

UNCY opened at $7.67 on Friday. The company has a market cap of $193.59 million, a price-to-earnings ratio of -3.53 and a beta of 1.78. The firm has a 50 day simple moving average of $6.88 and a 200 day simple moving average of $6.18. Unicycive Therapeutics has a fifty-two week low of $3.71 and a fifty-two week high of $11.00.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last posted its quarterly earnings results on Monday, March 30th. The company reported ($0.82) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.36). As a group, analysts expect that Unicycive Therapeutics will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new position in Unicycive Therapeutics during the fourth quarter valued at approximately $226,000. Millennium Management LLC acquired a new position in Unicycive Therapeutics during the fourth quarter valued at approximately $5,856,000. Cantor Fitzgerald L. P. acquired a new position in Unicycive Therapeutics during the fourth quarter valued at approximately $1,154,000. OMERS ADMINISTRATION Corp acquired a new position in Unicycive Therapeutics during the fourth quarter valued at approximately $451,000. Finally, State Street Corp grew its holdings in Unicycive Therapeutics by 19.0% during the fourth quarter. State Street Corp now owns 65,227 shares of the company's stock valued at $376,000 after purchasing an additional 10,400 shares during the period. 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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