Unicycive Therapeutics (NASDAQ:UNCY) Shares Gap Down - Should You Sell?

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $6.68, but opened at $6.25. Unicycive Therapeutics shares last traded at $5.37, with a volume of 729,575 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on UNCY. Guggenheim began coverage on shares of Unicycive Therapeutics in a research note on Monday, April 21st. They issued a "buy" rating and a $60.00 price target for the company. HC Wainwright upgraded Unicycive Therapeutics to a "strong-buy" rating and set a $90.00 price objective on the stock in a report on Tuesday, May 27th.

Unicycive Therapeutics Price Performance

The business has a 50 day moving average price of $0.75 and a two-hundred day moving average price of $0.67. The stock has a market cap of $89.87 million, a PE ratio of -1.39 and a beta of 2.01.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($1.40) by $0.90. On average, sell-side analysts forecast that Unicycive Therapeutics, Inc. will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Unicycive Therapeutics

A number of institutional investors have recently modified their holdings of UNCY. Geode Capital Management LLC grew its position in shares of Unicycive Therapeutics by 30.3% in the 4th quarter. Geode Capital Management LLC now owns 524,487 shares of the company's stock worth $417,000 after buying an additional 122,089 shares during the last quarter. XTX Topco Ltd lifted its stake in Unicycive Therapeutics by 142.2% in the fourth quarter. XTX Topco Ltd now owns 171,463 shares of the company's stock worth $136,000 after acquiring an additional 100,679 shares during the period. Vivo Capital LLC lifted its stake in Unicycive Therapeutics by 123.0% in the fourth quarter. Vivo Capital LLC now owns 9,970,152 shares of the company's stock worth $7,918,000 after acquiring an additional 5,500,000 shares during the period. Northern Trust Corp boosted its holdings in Unicycive Therapeutics by 142.4% in the fourth 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 in the last quarter. Finally, Nantahala Capital Management LLC boosted its holdings in Unicycive Therapeutics by 268.5% in the fourth quarter. Nantahala Capital Management LLC now owns 10,391,994 shares of the company's stock valued at $8,253,000 after acquiring an additional 7,571,636 shares in the last quarter. 40.42% of the stock is currently 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.