Zacks Investment Research Upgrades Unicycive Therapeutics (NASDAQ:UNCY) to Hold

Unicycive Therapeutics (NASDAQ:UNCYGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Unicycive Therapeutics Inc. is a clinical stage biotechnology company. It involved in developing therapies for patients with kidney disease. The company’s lead drug consist Renazorb, is a novel phosphate binding agent being developed for the treatment of hyperphosphatemia. Unicycive Therapeutics Inc. is based in LOS ALTOS, Calif. “

Separately, Maxim Group began coverage on shares of Unicycive Therapeutics in a research note on Wednesday, March 16th. They issued a “buy” rating and a $3.00 target price on the stock.

Shares of NASDAQ UNCY traded up $0.02 during mid-day trading on Friday, hitting $1.11. The stock had a trading volume of 19,226 shares, compared to its average volume of 144,778. Unicycive Therapeutics has a 1 year low of $0.87 and a 1 year high of $8.73. The business has a 50 day moving average price of $1.27 and a two-hundred day moving average price of $1.89.

Hedge funds have recently made changes to their positions in the company. Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of Unicycive Therapeutics during the 3rd quarter valued at $700,000. BlackRock Inc. bought a new stake in shares of Unicycive Therapeutics during the 3rd quarter valued at $33,000. Geode Capital Management LLC bought a new stake in shares of Unicycive Therapeutics during the 3rd quarter valued at $73,000. Finally, Two Sigma Investments LP bought a new stake in shares of Unicycive Therapeutics during the 3rd quarter valued at $72,000. Hedge funds and other institutional investors own 13.46% of the company’s stock.

About Unicycive Therapeutics (Get Rating)

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; and UNI 494, for treatment of acute kidney injury. The company was incorporated in 2016 and is based in Los Altos, California.

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