Wall Street Zen Downgrades Unicycive Therapeutics (NASDAQ:UNCY) to Sell

Key Points

• Wall Street Zen has downgraded Unicycive Therapeutics from a "hold" rating to a "sell" rating, indicating a significant change in the firm's outlook for the stock.
• Despite the downgrade, Benchmark has set a new price target for Unicycive at $21.00 with a "speculative buy" rating, suggesting some analysts still see potential in the stock.
• Unicycive Therapeutics recently reported a better-than-expected EPS of ($0.52), surpassing analyst estimates, which indicates some underlying operational strengths amidst stock price challenges.

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

Separately, Benchmark increased their price objective on Unicycive Therapeutics to $21.00 and gave the company a "speculative buy" rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $57.00.

Unicycive Therapeutics Trading Up 7.5%

Shares of UNCY opened at $4.02 on Friday. Unicycive Therapeutics has a twelve month low of $3.40 and a twelve month high of $11.00. The firm's fifty day simple moving average is $4.24 and its 200-day simple moving average is $5.36. The firm has a market capitalization of $71.00 million, a price-to-earnings ratio of -0.98 and a beta of 1.87.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.52) EPS for the quarter, topping analysts' consensus estimates of ($0.70) by $0.18. On average, analysts predict that Unicycive Therapeutics will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Unicycive Therapeutics

Several large investors have recently modified their holdings of UNCY. Lazard Asset Management LLC purchased a new position in shares of Unicycive Therapeutics during the second quarter worth approximately $55,000. JPMorgan Chase & Co. boosted its stake in Unicycive Therapeutics by 11,698.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company's stock worth $104,000 after purchasing an additional 21,525 shares during the period. Northern Trust Corp grew its position in Unicycive Therapeutics by 142.4% during the 4th quarter. Northern Trust Corp now owns 58,181 shares of the company's stock worth $46,000 after purchasing an additional 34,183 shares during the last quarter. Finally, Vivo Capital LLC increased its stake in Unicycive Therapeutics by 14.0% in the first quarter. Vivo Capital LLC now owns 11,370,152 shares of the company's stock valued at $6,537,000 after purchasing an additional 1,400,000 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.