Unicycive Therapeutics (NASDAQ:UNCY) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Unicycive Therapeutics (NASDAQ:UNCY) from a hold rating to a strong sell rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other research analysts also recently weighed in on UNCY. Guggenheim reissued a “buy” rating and set a $37.00 target price (down from $40.00) on shares of Unicycive Therapeutics in a research report on Wednesday, May 13th. Benchmark dropped their price objective 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. HC Wainwright reduced their price objective on Unicycive Therapeutics from $22.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Weiss Ratings raised Unicycive Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 9th. Finally, B. Riley Financial reissued a “buy” rating and issued a $22.00 target price on shares of Unicycive Therapeutics in a research report on Tuesday, June 30th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Unicycive Therapeutics currently has an average rating of “Hold” and an average target price of $21.75.

Unicycive Therapeutics Price Performance

Shares of Unicycive Therapeutics stock opened at $5.46 on Tuesday. The firm has a market cap of $149.55 million, a PE ratio of -2.47 and a beta of 1.79. Unicycive Therapeutics has a 1 year low of $3.71 and a 1 year high of $8.74. The stock has a fifty day moving average price of $6.70 and a 200-day moving average price of $6.77.

Unicycive Therapeutics (NASDAQ:UNCY) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.08). As a group, equities analysts anticipate that Unicycive Therapeutics will post -1.49 EPS for the current fiscal year.

Institutional Trading of Unicycive Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its position 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 acquiring an additional 10,400 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Unicycive Therapeutics in the second quarter valued at $55,000. JPMorgan Chase & Co. raised its stake in shares of Unicycive Therapeutics by 11,698.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock valued at $104,000 after purchasing an additional 21,525 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Unicycive Therapeutics during the 1st quarter valued at $161,000. Finally, Bank of America Corp DE raised its stake 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 valued at $194,000 after purchasing an additional 29,378 shares during the period. Institutional investors own 40.42% of the company’s stock.

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.