Unicycive Therapeutics, Inc. (NASDAQ:UNCY) Receives $21.75 Consensus PT from Brokerages

Shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $21.75.

A number of brokerages recently issued reports on UNCY. HC Wainwright lowered their price target on Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Guggenheim reiterated a “buy” rating and set a $37.00 price objective (down from $40.00) on shares of Unicycive Therapeutics in a research report on Wednesday, May 13th. Benchmark reduced their target price on shares of 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. B. Riley Financial restated a “buy” rating and issued a $22.00 target price on shares of Unicycive Therapeutics in a report on Tuesday, June 30th. Finally, Wall Street Zen cut shares of Unicycive Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th.

Unicycive Therapeutics Trading Up 4.4%

Shares of NASDAQ UNCY opened at $5.69 on Friday. The firm’s 50-day moving average price is $6.82 and its 200-day moving average price is $6.77. The stock has a market capitalization of $155.85 million, a price-to-earnings ratio of -2.57 and a beta of 1.79. Unicycive Therapeutics has a 12-month low of $3.71 and a 12-month high of $8.74.

Unicycive Therapeutics (NASDAQ:UNCY) last announced its earnings results on Tuesday, May 12th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). On average, equities analysts predict that Unicycive Therapeutics will post -1.49 EPS for the current fiscal year.

Institutional Trading of Unicycive Therapeutics

A number of large investors have recently modified their holdings of UNCY. Lazard Asset Management LLC purchased a new position in Unicycive Therapeutics during the 2nd quarter worth $55,000. JPMorgan Chase & Co. lifted its holdings in shares of Unicycive Therapeutics by 11,698.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock worth $104,000 after buying an additional 21,525 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Unicycive Therapeutics in the 1st quarter worth $161,000. Citadel Advisors LLC bought a new position in shares of Unicycive Therapeutics during the 3rd quarter worth $182,000. Finally, Bank of America Corp DE grew its position in shares of 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 buying an additional 29,378 shares in the last quarter. Hedge funds and other institutional investors own 40.42% of the company’s stock.

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. The company was incorporated in 2016 and is based in Los Altos, California.