Unicycive Therapeutics (NASDAQ:UNCY) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Unicycive Therapeutics from “sell” to “hold,” while the broader analyst consensus remains “Hold” with a $18.25 price target.
• Analyst opinions are mixed: Benchmark, HC Wainwright and Guggenheim maintain bullish ratings but cut their price targets, while Zacks Research downgraded the stock to “strong sell.”
• UNCY shares opened at $5.51, well below the consensus target, and the company reported a quarterly loss of $0.06 per share—better than the expected $0.47 loss. Institutional investors own about 40.4% of the stock.

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

UNCY has been the topic of a number of other reports. Benchmark decreased their price target on Unicycive Therapeutics from $18.00 to $13.00 and set a "speculative buy" rating on the stock in a research note on Wednesday, July 1st. Weiss Ratings raised Unicycive Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, June 9th. HC Wainwright dropped their price objective on Unicycive Therapeutics from $22.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Guggenheim reiterated a "buy" rating and issued a $25.00 price objective (down from $37.00) on shares of Unicycive Therapeutics in a report on Thursday. Finally, Zacks Research lowered Unicycive Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 21st. Five research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Unicycive Therapeutics currently has a consensus rating of "Hold" and a consensus price target of $18.25.

Unicycive Therapeutics Price Performance

Shares of UNCY opened at $5.51 on Friday. The firm has a 50-day simple moving average of $5.94 and a two-hundred day simple moving average of $6.64. The stock has a market cap of $153.45 million, a PE ratio of -3.15 and a beta of 1.79. Unicycive Therapeutics has a 1-year low of $3.71 and a 1-year high of $8.74.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.41. As a group, sell-side analysts expect that Unicycive Therapeutics will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Unicycive Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in shares of Unicycive Therapeutics by 19.0% during the fourth quarter. State Street Corp now owns 65,227 shares of the company's stock worth $376,000 after buying an additional 10,400 shares during the period. Lazard Asset Management LLC purchased a new position in Unicycive Therapeutics in the second quarter worth approximately $55,000. JPMorgan Chase & Co. lifted its stake in Unicycive Therapeutics by 11,698.4% in the second quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company's stock worth $104,000 after acquiring an additional 21,525 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Unicycive Therapeutics during the 1st quarter worth approximately $161,000. Finally, Bank of America Corp DE grew its holdings in Unicycive Therapeutics by 19,327.6% during the 1st quarter. Bank of America Corp DE now owns 29,530 shares of the company's stock worth $194,000 after acquiring an additional 29,378 shares in the last quarter. 40.42% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source