Unicycive Therapeutics (NASDAQ:UNCY) Stock Rating Lowered by Wall Street Zen

Key Points

• Unicycive Therapeutics was downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a pessimistic outlook for the stock.
• Benchmark set a new price target of $21.00 while the consensus target price remains high at $57.00, suggesting mixed analyst sentiment.
• Recent activity from institutional investors includes JPMorgan Chase increasing its stake by 11,698.4%, reflecting potential growing interest in the company.

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

A number of other equities research analysts have also weighed in on UNCY. Benchmark lifted their price objective on Unicycive Therapeutics to $21.00 and gave the stock a "speculative buy" rating in a research report on Monday, September 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Unicycive Therapeutics in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Unicycive Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.00.

Unicycive Therapeutics Price Performance

UNCY opened at $5.13 on Friday. The stock's 50 day simple moving average is $4.35 and its 200 day simple moving average is $5.19. Unicycive Therapeutics has a 1 year low of $3.71 and a 1 year high of $11.00. The firm has a market cap of $90.60 million, a price-to-earnings ratio of -1.25 and a beta of 1.86.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.52) earnings per share for the quarter, topping analysts' consensus estimates of ($0.70) by $0.18. As a group, sell-side analysts anticipate that Unicycive Therapeutics will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Unicycive Therapeutics

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Unicycive Therapeutics during the second quarter valued at approximately $55,000. JPMorgan Chase & Co. boosted its position in shares of Unicycive Therapeutics by 11,698.4% during the second quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company's stock valued at $104,000 after purchasing an additional 21,525 shares in the last quarter. Finally, Vivo Capital LLC raised its stake in Unicycive Therapeutics by 14.0% during the first quarter. Vivo Capital LLC now owns 11,370,152 shares of the company's stock valued at $6,537,000 after buying an additional 1,400,000 shares during the last quarter. 40.42% of the stock is currently owned by institutional investors.

About Unicycive Therapeutics

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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