Unicycive Therapeutics (NASDAQ:UNCY) Shares Up 2% - Still a Buy?

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY - Get Free Report) shot up 2% on Monday . The stock traded as high as $4.81 and last traded at $4.69. 602,283 shares were traded during mid-day trading, an increase of 125% from the average session volume of 267,946 shares. The stock had previously closed at $4.60.

Analyst Ratings Changes

Several research firms have recently issued reports on UNCY. Guggenheim began coverage on Unicycive Therapeutics in a research note on Monday, April 21st. They set 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 target for the company in a research note on Tuesday, May 27th.

Unicycive Therapeutics Stock Performance

The stock has a 50-day simple moving average of $6.20 and a 200 day simple moving average of $6.15. The company has a market cap of $62.83 million, a P/E ratio of -0.97 and a beta of 1.89.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp lifted its holdings in Unicycive Therapeutics by 142.4% during the fourth quarter. Northern Trust Corp now owns 58,181 shares of the company's stock worth $46,000 after acquiring an additional 34,183 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of Unicycive Therapeutics by 142.2% in the fourth quarter. XTX Topco Ltd now owns 171,463 shares of the company's stock valued at $136,000 after purchasing an additional 100,679 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Unicycive Therapeutics by 30.3% in the fourth quarter. Geode Capital Management LLC now owns 524,487 shares of the company's stock valued at $417,000 after purchasing an additional 122,089 shares in the last quarter. Acuta Capital Partners LLC lifted its holdings in shares of Unicycive Therapeutics by 16.4% in the fourth quarter. Acuta Capital Partners LLC now owns 2,303,000 shares of the company's stock valued at $1,829,000 after purchasing an additional 323,801 shares in the last quarter. Finally, Vivo Capital LLC lifted its holdings in shares of Unicycive Therapeutics by 123.0% in the fourth quarter. Vivo Capital LLC now owns 9,970,152 shares of the company's stock valued at $7,918,000 after purchasing an additional 5,500,000 shares in 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.